In the not too distant past the Accrington property market was less than buoyant, but in the last four years things have changed dramatically and property prices have increased in some places by as much as 600 percent. The most common increase however has been around 3 to 400 percent.
This significant change has been come about by government intervention and by being designated a regeneration area which in turn has meant mass demolition of many traditional terraced houses. In fact it would have been cheaper to have totally renovated these properties to bring them back to life but lack of well paid jobs has meant many well educated and ambitious locals were forced to move elsewhere to make a decent living.
The increase in prices has in fact been a double edged sword and whilst Accrington property prices are now more in line with the National property prices, it has really made the poor poorer. Although people are selling their properties for what appears to be vastly increased sums of money they are actually no better off because they still have to pay for a new home and of course all property prices have risen. Those that really need to trade up from a two bedroom property to a three bedroom property are finding the massive increase in price between the two prohibitive, meaning many poorer households are living in overcrowded conditions.
To some extent it might have been better for the locals, (unless they moved from the area), for prices to remain low because it meant that with their low wages they could afford to buy their first home. Unfortunately wages in the area still have not increased and in some ways the situation has become worse because East Europeans moving to the area, are happy to work for minimum wage (and sometimes less), making even poorly paid jobs more scarce and not giving employers any encouragement whatsoever to improve their rates of pay.
It all sounds like doom and gloom but this certainly isn’t the case for those who do earn above the minimum wage and people moving into the area. Accrington is a lovely place to live as you are never far away from a beautiful view of some of Lancashire’s undulating countryside. The Town is only around 20 miles to both Manchester and Preston’s City Centres. We have all the convenience of being close to these cities while living in pretty, quaint rural town. Accrington has a low crime rate and a good well integrated ethnic community; it has had none of the problems of our near neighbours Blackburn and Burnley.
Real Estate Products on our marketplace
Additional Articles From -
Home |
Finance |
Real estate
Tenerife Property Information
Whilst the attractions of owning a holiday home in Tenerife, Canary Islands, Spain are obvious with its year round sunshine, relatively short flights from northern Europe and low tax economy, the property (real estate) market h...
Spanish Homes Information
So you want a home in Spain but don't know where to start, well here I will try to explain some of the basics that you should know. I guess everyone knows what an apartment is, it is a flat in the UK or a Condo (condominium) to ...
5 Things You Should Know Before You Flip A Property
1. Money is made at the buy, not the sell of your flip. When flipping a house your money is made at the purchase not at the sell of the house. So, many times people buy a house with the intensions of making a huge profit only to...
The Spanish Property Market
The Spanish property (real estate) market has plainly suffered over the last few years as the United Kingdom is just starting to now. The boom years of the early part of this century when cheap prices fuelled an enormous demand ...
Costa Almeria Property
Although there has been a slow down in property (real estate) sales throughout Spain and it's islands for the last couple of years, the Province of Almeria and in particular the Costa Almeria has stood up quite well, although it...
Costa Calida Property
If you are looking to buy a holiday home in Spain, you could do a lot worse than consider the Costa Calida. So you have never heard of it before, you soon will, as more and more British and other northern Europeans are investing...