The area around Chapel Street continues to receive investment, including a new development of contemporary apartments and townhouses.
The English Cities Fund was set up around 15 years ago by three partners – national urban re-generator Muse Developments, Legal & General and Homes England – with the mission to ‘unlock the potential in our towns and cities, by reinventing urban areas at pace, in new and imaginative ways’.
As part of the scheme, Salford Central received a massive £1bn of regeneration cash to transform over 50 acres of the historic city centre into a brand-new neighbourhood and mix-use destination.
Loads of developments such as Vimto Gardens, Carpino Place and Valette Square have taken place over the years.
Plus the area has seen the introduction of plenty of independent bars and restaurants, with the outstanding Porta Tapas, The New Oxford Pub, The Old Pint Pot, Le Cassi’s Wine Bar, plus Vero Moderno on Chapel Street alone.
You’ll also find Caribbean Flavas, Pizzology, Chung’s Chippy, as well as plenty of arts and culture in the form of the nearby Salford Museum & Gallery and GK Gallery.
Also in the area, on the banks of the Irwell, is the historic Peel Park, which first opened its gates in 1846 and received a whopping £1.6m refurbishment throughout 2017 to return it to its former glory.
The latest addition to the line-up is a new development, Atelier, which is set to be slap bang in the middle of all the action.
Home to 167 contemporary 1, 2- and 3-bedroom apartments, plus eleven new 3-bedroom townhouses each complete with their very own front door, garden and secure parking, Atelier will bring life to the former wasteland opposite Salford Cathedral.
Launch prices are in the region of £170k for a 1 bed with completion of the project due in the last quarter of this year. The apartments are also Help to Buy (Subject to availability, eligibility and meeting government restrictions).
Find out more here.
Rightmove reveals how much first-time buyers will have to pay for a home in the North West
Everything you need to know…
Rightmove reveal just how much you can expect to pay as a first-time buyer in your region.
Latest studies by Rightmove show that the North West has seen the biggest annual rise in property prices for first-time buyer homes with two or fewer bedrooms.
The average asking price in the North West is up 8.6% over the past 12 months, the biggest increase in any region across Great Britain.
The second biggest increase is seen in Yorkshire and The Humber with prices up 8.4%, followed by the West Midlands at 7.0%.
The average asking price for a first-time buyer is £200,578, up 3.9% compared to 12 months ago, equating to an annual rise of £7,475.
The average asking price in the North West in January 2021 is £144.453.
The only region where the asking price exceeds £400k is in the capital where the average is £474,950. However, London is the only region where first-time buyer property prices have fallen year on year with prices down 1.4% compared to a year ago.
Tim Bannister, Rightmove’s data expert said: “Many people are deciding that 2021 is the year to get their foot on the property ladder, and this research provides an insightful snapshot into the first-time buyer sector across the British property market right now.
“What’s interesting for me is that, despite the higher asking prices in London, first-time buyers in the capital appear to have a window of opportunity to negotiate a good deal, with this being the only region to have seen average first-time buyer asking prices fall over the past 12 months.
“Conversely, sellers in the North West who are looking to trade up and move into a bigger home are in a strong position, with average asking prices for first-time buyer properties having jumped by 8.6% during the same period, which is a good indicator of a strong market.”
Richard Powell, Director at Ryder & Dutton with branches across East Lancashire, North Manchester and West Yorkshire, said: “I think first-time buyer homes have seen a boom in property prices because demand is outstripping supply.
“We’ve less properties for sale per branch than at any time since the late 1980s, which of course causes prices to rise. Having said that, people still want to buy homes and in many cases it’s no more expensive to buy in the North West than to rent, especially with low mortgage rates available.
“The North West possibly has a greater stock of properties that are more easily accessible for first-time buyers – places such as Oldham, Rochdale, Bury and Blackburn – these big, former mill towns have lots of terraced properties around the £100,000 to £200,000 mark that are available to buy.
“And coupled with more Help to Buy schemes and new-build developments, it’s probably easier to become a first-time buyer in this part of the world than many other regions, which also helps to push prices up.
“We’ve also seen a reluctance from people in their first homes to move up the ladder because they haven’t had confidence in the market to do so. Over the past four years or so with Brexit and now Covid, we’re seeing a lot of pent-up supply as well as pent-up demand.”
We chatted to a property expert last week to find out the top six places to buy in Greater Manchester this year, including Salford, Prestwich and Ancoats! See more here.
Property expert lists top six places to buy in Greater Manchester in 2021
From first-time buyers to buy-to-letters!
We spoke to the experts at Bentley Hurst to find out the best places to buy in Manchester this year.
I don’t have to tell you how great Manchester is – I don’t think you’d be following Proper Manchester if you didn’t love this place as much as we did – so I’ll skip straight to the good bit.
Business Development Manager, Jonathan Gold has listed the top six places to buy in Greater Manchester right now, whether you are looking for ‘an affordable home, stylish suburban living, or somewhere to raise a family’. Perfect!
First on the list is the city centre – it’s thriving, and it’s (normally) vibrant and full of life. There are also tonnes of new developments happening too. Jonathon gives a specific shout out to the Deansgate Square developments that include four residential towers in an iconic location.
There are so many options for the city centre, with more and more new venues adding to the already massive list of shops, bars, restaurants and museums, and city centre living is bound to stay popular for quite sometime.
Average prices for areas like Piccadilly and Deansgate come in at around £231,156.
Next on the list is the classic suburban dream of Chorlton and Didsbury. There’s a strong social scene, impressive properties and beautiful greenery, plus it’s super easy to get into the city centre.
There’s a strong independent culture with a real ‘neighbourhood feel’. Average house prices can range from £292,280 to £354,549 and are very much in-demand.
For first time buyers, Jonathon recommends Salford and Trafford where you’ll get a bit more bang for your buck while still maintaining pretty close proximity to the city centre.
In Salford house prices cost on average £200,715 with a capital growth of 30% over a five year period.
Jonathon also explains that it’s a good area for those looking for a buy-to-let property, with rental yields in Little Hulton on average of 6%.
Next up on the list, Prestwich. Known for it’s neighbouring Heaton Park, Prestwich makes the list as more and more people are looking to relocate to greener areas after almost a year of being locked up inside.
The up-and-coming suburb has had a big high street regeneration and now boasts an array of indie cafes and restaurants. You can be back in the city centre within 15 minutes and Jonathon promises a good mix of housing, plenty of greenery and good schools – making it the perfect place to start a family.
Unlike anywhere else Manchester has to offer, Ancoats and New Islington are next on the list.
Packed full of shops, arts and entertainment – and even a Michelin-starred restaurant – Ancoats and New Islington are a vibrant part of the city and perfect for anyone looking for something a little different.
Average house prices in Ancoats are around £213,371.
And finally, the Green Quarter. Situated close to the bustling Northern Quarter, the Green Quarter is perfect for those who like a little open space, and Victoria Station is just five minutes away.
A brand new 15-storey development, The Hallmark, is offering high-spec apartments with exclusive access to a landscaped roof top terrace!
There are of course plenty of other amazing areas to buy in Manchester that will offer an array of different things, like Stretford’s bustling and growing food scene, and Tameside’s suburbia.
For more advice from Jonathon and his colleague’s, head to Bentley Hurst Manchester.
Farnworth market precinct set to get £50m transformation including 200 new homes
‘Bringing the power back to the town centre’
Farnworth market precinct is set to become a new vibrant town centre community with £50m transformation plans.
A deal has recently been agreed between Bolton Council and stars of BBC2 documentary Manctopia Capital & Centric to regenerate the site and rejuvenate the town centre.
Those from the area are being asked what they think of the proposals of around 200 new modern homes surrounding the public space, as well as a flexible indoor community space with a village hall feel.
The vision is to create a new bustling destination for artisan markets, live events, art galleries and pop-ups for foodies.
The site is a short walk from the train station, sitting on King Street, giving it easy access to both Bolton and Manchester. The refurbished bus station is also on the site’s doorstep, making it an ideal location for commuters.
A linear park will also link to Farnworth Central Park to bring green space to the doorstep of the community.
Locals are being asked what amenities they would like to see as part of the market precinct such as café-bars, delis, a mini-cinema, gym and co-working space for workers and businesses to base themselves.
Tim Heatley, co-founder of Capital & Centric, said: “It’s been talked about for a while now, but I think 2021 will be the watershed year for rebooting and levelling up our town centres. To get them thriving again we need to bring people into the town centre, so we’re bringing homes of a quality seen in the city centre right into the heart of Farnworth.
“These will sit alongside all the other bits you need to make a proper community, so tons of outside space, with a new public square and linear park, and a new indoor community space for events and pop-ups.
“We’ll also have all the other parts of the eco-system like café-bars, delis, a mini-cinema, gym and co-working space. This will be a new destination for people living in Farnworth to live, work and hang out. As usual for us we’ve gone for a bold design and we’re keen to hear what people think. We’re buzzing with ideas but we want to create this community together so come and join the conversation!”
Deputy Leader of Bolton Council, Cllr Martyn Cox added: “It’s really exciting to see the proposals for Farnworth town centre beginning to take shape so quickly. CAPITAL&CENTRIC have made a great start since the council agreed the deal with them last year to take forward the redevelopment of the former market precinct.
“This part of Farnworth has huge potential and we’ve now got a clear set of ideas for transforming the area. It’s got everything: high-quality homes and employment, retail and leisure opportunities.
“Now it’s over to local residents to hear what they think – so I’d encourage everyone to respond to the consultation and be part of shaping Farnworth town centre’s future.
“It’s been a tough year for everyone due to the Covid-19 pandemic, but it’s important we focus as soon as possible on helping communities recover. Delivering projects like this will be a key part of that.”
There is no public event due to Covid-19 restrictions but there are a number of ways people can join the conversation:
- Attend a live online Q&A on Monday 8th February at 6pm
- A questionnaire can be completed online or from the ones sent to neighbouring households and businesses in the area
- Email: firstname.lastname@example.org
- Follow @CapitalCentric