House prices leapt by 5.4% in Blackpool in October, new figures show

But the significant rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 0.3% annual decline.

The average Blackpool house price in October was £137,460, Land Registry figures show – a 5.4% increase on September.

Over the month, the picture was different to that across the North West, where prices decreased 0.4%, and Blackpool was above the 0.7% drop for the UK as a whole.

Over the last year, the average sale price of property in Blackpool fell by £420 – putting the area 19th among the North West’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in St Helens, where property prices increased on average by 5.5%, to £185,000.

At the other end of the scale, properties in Tameside lost 4.6% of their value, giving an average price of £204,000.

Wyre

The average Wyre house price in October was £200,288 – a 1% decrease on September.

Over the month, the picture was different to that across the North West, where prices decreased 0.4%, and Wyre was lower than the 0.7% drop for the UK as a whole.

Over the last year, the average sale price of property in Wyre rose by £2,300 – putting the area 13th among the North West’s 35 local authorities with price data for annual growth.

Fylde

The average Fylde house price in October was £238,779 – a 0.4% decrease on September.

Over the month, the picture was similar to that across the North West, where prices decreased 0.4%, and Fylde was above the 0.7% drop for the UK as a whole.

Over the last year, the average sale price of property in Fylde fell by £2,000 – putting the area 23rd among the North West’s 35 local authorities with price data for annual growth.

First steps on the property ladder

First-time buyers in Blackpool spent an average of £122,120 on their property – £460 less than a year ago, but £27,900 more than in October 2018.

By comparison, former owner-occupiers paid £148,450 on average in October – 21.6% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in Blackpool in October – they increased 5.4%, to £117,113 on average. Over the last year, prices dropped by 0.6%.

Among other types of property:

• Detached: up 5.2% monthly; down 0.1% annually; £232,253 average
• Semi-detached: up 5.4% monthly; up 0.4% annually; £157,711 average
• Flats: up 5.2% monthly; down 2.1% annually; £79,893 average

How do property prices in Blackpool compare?

Buyers paid 36.3% less than the average price in the North West (£216,000) in October for a property in Blackpool. Across the North West, property prices are low compared to those across the UK, where the average cost is £288,000.

The most expensive properties in the North West were in Trafford – £375,000 on average, and 2.7 times the price as in Blackpool.

Trafford properties cost 3.3 times the price as homes in Burnley (£114,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, at £1.4 million.