REVEALED: The most expensive place to buy a house in Blackpool

Analysis of new figures reveals that Norbreck was the most expensive area of Blackpool to buy a house in last year.

By Simon Drury
Friday, 1st July 2022, 11:51 am

Zoopla said the data highlights how localised the housing market across England and Wales is, with prices often reflecting the housing stock available in an area.

Data from the Office for National Statistics reveals that of the 21 council wards in Blackpool, Norbreck saw the highest median house price in 2021, of £170,000.

This was followed by Waterloo (£157,500) and Stanley (£153,000).

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By contrast, the cheapest parts of Blackpool to purchase property were Bloomfield, which had a median house price of £78,000, Claremont (£80,000) and Brunswick (£97,125).

The median – the middle number in a series – is used to ensure the figures are not skewed by extreme highs or lows.

Meanwhile, the number of homes sold in Blackpool rose from 1,732 in 2020 to 2,288 last year.

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Of sales last year, 6% (147) were in Stanley – making it the busiest area for buyers.

At the other end of the scale, Bloomfield saw just 51 properties sold in 2021, earning it the title of quietest area of Blackpool's property market, along with its cheapest.

The Centre for Economics and Business Research said that following a period of significant growth during the pandemic, it expects house prices to experience downward pressure over the next year, as a result of sharp rises in mortgage rates.

Karl Thompson, an economist at the think tank, said the strongest price contractions are expected outside of London and the South East, causing greater regional price disparities.

The number of residential property sales in England increased by 21% to 821,407 between the end of 2020 and the end of last year.

Grainne Gilmore, head of research at Zoopla, said property values vary widely in large part because of the differing housing stock between areas – some neighbourhoods will have a higher number of five-bedroom detached homes, while others will be home to more flats and smaller properties.

But she said the difference between more and less expensive areas may start to narrow.

She added: "The demand for larger detached homes during the pandemic has pushed average values for houses higher over the last year, while price growth for flats has lagged.”