Is Chorlton and Old Trafford on the cusp of another house price boom?..
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The last house price boom really was something. It created property millionaires, TV celebrities, accidental landlords, an explosion of PropTech companies and one or two red-faces in its aftermath. In 2007, the hottest year, the price of the average UK home rose by £15,900. Chorlton and Old Trafford felt the effect as well, by prices rising by 10.2 per cent or £18,400 in that year alone. We all know things came to a sudden halt in 2008 with the credit crunch, when the availability of mortgage finance evaporated seemingly overnight. Since then the national market has made something of a come back with prices rising more steadily and sales volumes sitting broadly halfway between their highest and lowest point in the period 2000 to 2007.
The last house price boom really was something. It created property millionaires, TV celebrities, accidental landlords, an explosion of PropTech companies and one or two red-faces in its aftermath. In 2007, the hottest year, the price of the average UK home rose by £15,900. Chorlton and Old Trafford felt the effect as well, by prices rising by 10.2 per cent or £18,400 in that year alone.
We all know things came to a sudden halt in 2008 with the credit crunch, when the availability of mortgage finance evaporated seemingly overnight. Since then the national market has made something of a come back with prices rising more steadily and sales volumes sitting broadly halfway between their highest and lowest point in the period 2000 to 2007.
