HOUSE prices in Bolton have risen by nearly 50 per cent in 12 months - the fastest increase in Greater Manchester.

Traditional terraced houses are at the centre of the boom, but detached and semi-detached properties and apartment have also soared in value.

Prices across Greater Manchester have continued to climb over the past 12 months, according to statistics compiled by the Land Registry of England and Wales. The figures are based on actual house sales up to September this year and are seen as the most accurate measure of the market.

Bolton has enjoyed the fastest-growing prices in the region, with an increase of 46.1 per cent.

And the average price of a house in Bolton now comes in at £120,764.

The price of terrace properties in the borough has risen by 44.6 per cent, detached houses by 33 per cent, semis by 27.6 per cent and flats by 28.1 per cent during a year.

Nick Biggs, of Mellor Biggs Estate Agents, Blackburn Road, Astley Bridge, said: "In the first half of the year, there was phenomenal growth, particularly in the lower end of the market.

"Terraces have traditionally been first-time buyers' properties, but they have gone out of their reach.

"A lot of it was frenzy buying and the media had a huge role to play in that, as well as all the television programmes which tell people how to sell their house for more.

"The market is slowing down now and I can see us following the pattern in the South, where property prices have started to drop."

The Land Registry statistics showed Tameside to have the slowest housing market in Greater Manchester, with a 19.4 per cent increase in house prices.

Trafford has the most expensive homes, where the average house is worth £215,874.

Nearby Bury and Wigan have had been growing at a steady pace, with Bury enjoying a 22 per cent increase and Wigan 26.2 per cent.

Bury also experienced the only fall in house prices, with the sales of flats dropping by 3.1 per cent.

Figures published last week in the Halifax monthly house price index report showed house prices had fallen by 1.1 per cent in October.

The Bank of England has raised interest rates five times since November last year in a bid to increase the cost of borrowing.