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Fairyland

The Worst Place In The Country To Have Bought A House In The Last 15 Years Is...

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Link: http://www.telegraph.co.uk/business/2016/03/29/the-worst-place-in-the-country-to-have-bought-a-house-in-the-las/

If you bought a house in Bolton in the last 15 years, you will almost certainly have lost money.

The centre of the city, which is located within Greater Manchester, is the only place in England and Wales where house prices have fallen since 2000.

Property prices in Bolton have slumped by 9pc over the past 15 years. The second-worst performer was Leicester, where prices in the city centre have risen by 9pc since 2000. Across England and Wales house prices increased 172pc on average over the same period.

The research, carried out by online estate agency eMoov and based on data from the Office for National Statistics, revealed that the average house price in Bolton in 2000 was £77,000, or £8,000 below the national average. Property values in the town peaked in 2008 to £106,000, before falling to just under £71,000 at the end of 2015 - far below the current national average of £221, 254.

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"It doesn’t seem like things will be improving anytime soon with low demand for property across Bolton as a whole likely to cool the local market even further. You have to feel for those that have seen the value of their property drop in Bolton, it’s almost the equivalent of everyone in the UK buying a lottery ticket and you being the only one that doesn’t hit the jackpot.”

Very sad?

Edited by Fairyland

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Not sure on those figures.

In 2000 I was living in Leicester, a house on my street cost around £90k.

Now those houses go for around £180k.

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Cheap, (well more reasonably priced) housing. What a disaster.

Just imagine being able to buy a flat, then save up for a few years and be able to buy a small house, before buying a family home with a garden. Poor bastards.

Meanwhile I live in a small house worth 3x what I paid for it yet unable to move ever.

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it’s almost the equivalent of everyone in the UK buying a lottery ticket and you being the only one that doesn’t hit the jackpot.

Except for everyone who didn't buy a house before 2004.

Where's my lottery ticket?

Edited by irrationalactor

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I think virtually 99.5% of people in Bolton just use houses for living in and do not view them as an investment vehicle, that phenomenon is predominantly a SE England thing. The only downside of living somewhere more financially minimalist is it limits the opportunity to move elsewhere without incurring significant costs hence most Boltonites will stay in Bolton and hence the sense of community will be much greater than in many other towns with more transient populace.

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