More than a third of local authorities in England and Wales missed their house building targets last year, according to data from the Ministry of Housing, Communities and Local Government (MHCLG) analysed by LandTech.
Overall, local authorities across England delivered more homes during 2019 than they did the previous year. Yet even with building 247,000 homes last year, local authorities would need to build 32% additional homes every year to meet the government’s promise of delivering 300,000 new homes a year by the mid-2020s.
Despite this city having seen a building boom in the last few years, there is still plenty of room for growth throughout Greater Manchester. In the city region, seven local authorities are behind on housing delivery targets, including Bolton, Trafford, Bury, Oldham, Tameside, Stockport and Rochdale.
As demand in these areas continues to increase, newly constructed properties are likely to be hugely popular among buyers and investors, and Greater Manchester is a major target for regeneration to capitalise on this demand.
Bolton set for growth and investment
Bolton’s local authority only reached 58% of its housing delivery target in 2019, leaving room for more houses and investment to be brought forward.
Set to be phased out across more than 10 years, a £1bn regeneration masterplan will completely transform the town and is expected to create 1,800 new homes and 7,400 new jobs. This is set to encourage additional investment and generate strong economic activity.
Located only 10 miles from the city centre, Bolton is becoming a hotspot for commuters and young professionals and is expected to see demand for housing, especially rental properties, continue to increase. Bolton can provide lucrative opportunities for property investors and landlords looking for investments outside of the UK’s major cities.
BuyAssociation offers an exciting investment opportunity in Bolton at the Stone Cross House. Located within the Church Wharf regeneration area, this development will be the town’s first high specification, “city living” style apartment block. You can read more about the “smart homes” available to invest in here.
