Val­ley house prices soar

Rossendale Free Press - - Front Page - EMMA CURRY [email protected]­plc.com @em­malouise­curry

PROP­ERTY prices are boom­ing as Rossendale recorded the fifth fastest rate of any area in Eng­land.

Fig­ures from the Of­fice for Na­tional Sta­tis­tics (ONS) show that, over the past 12 months, prices in the Val­ley have soared by 11.5 per cent, to an av­er­age price of £141,222.

This puts the bor­ough in fifth place in a na­tional league ta­ble of house prices dom­i­nated by south­ern coun­ties.

Kens­ing­ton and Chelsea top the list with an 18pc an­nual rise fol­lowed by the For­est of Dean (17.9pc), Mel­ton (12.8pc) and Daven­try (12.1pc).

Emma Far­row, di­rec­tor at Far­row & Far­row es­tate agents on Bank Street in Rawten­stall, said Rossendale’s per­for­mance is ‘not a sur­prise’. She told the Free Press: “The main rea­son for this is a com­bi­na­tion of two fac­tors – the in­crease in the range of ameni­ties in the Val­ley, to­gether with greater aware­ness of this, both within the area it­self but also to the wider Manch­ester mar­ket.

“A ma­jor fac­tor has also ●● Emma Far­row, di­rec­tor of Far­row and Far­row been the re­duc­tion in stock lev­els of houses com­ing to the mar­ket which, at the end of Oc­to­ber, had seen a drop in num­bers of houses for sale of around 28pc year on year to date.

“This is not just with our agency, but across the whole mar­ket.

“This means that we have seen an in­crease in de­mand, par­tic­u­larly for prop­er­ties within easy reach of Rawten­stall town cen­tre, with good ac­cess to the mo­tor­way and pub­lic trans­port con­nec­tions.”

How­ever coun­cil­lor Bar­bara Ash­worth, port­fo­lio holder for health, hous­ing, com­mu­ni­ties and cus­tomer ser­vices, said the pic­ture is ‘more com­plex than the fig­ures sug­gest’.

She said: “Ris­ing prop­erty prices can be a pos­i­tive sign for the bor­ough.

“It is an in­di­ca­tion that peo­ple want to come and live here or stay be­cause there are plenty of op­por­tu­ni­ties for them – and why not live here? Rossendale is cer­tainly a bor­ough on the up. It is a great place to live and work.

“How­ever we also are mind­ful that the bor­ough needs a good stock of high qual­ity houses which peo­ple can af­ford.

“We don’t want a sit­u­a­tion where young peo­ple and oth­ers in hous­ing need are priced out of liv­ing here.

“The coun­cil is con­tin­u­ally work­ing with our part­ners to im­prove the area’s pros­per­ity for the ben­e­fits of its res­i­dents.

We will con­tinue lob­by­ing for ex­tra in­vest­ment to im­prove our in­fras­truc­ture.”

●● Far­row & Far­row for sale sign

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