Poulton sees one of biggest UK house price falls

Poulton is named in a new survey as one of the 10  towns in the UK which has seen the biggest fall in property prices since January.
By The Newsroom
Published 16th Jul 2018, 16:52 BST
Updated 16th Jul 2018, 18:02 BST
PoultonPoulton
Poulton

The study says the average price of a home in the town is now £210,583, which is £13,881 down over the six months to June.

Property website Zoopla says this is not unusual nationwide since the total value of Britain’s property market has fallen by nearly £27bn since the start of the year.

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It said the average home decreased in value by £5.12 per day during the first six months of 2018 - adding up to a fall of £927 per property.

While this will be bad news for some home-owners, for first-time buyers falling property prices in certain areas could potentially provide opportunities.

Zoopla spokesman Lawrence Hall said: “Uncertainty around Brexit is a very real factor in the market; however, on the positive side, the drop is creating a potential opportunity for first-time buyers to get a foot on the ladder in some regions across Britain.”

The top 10 towns with the biggest decreases in property values since January, according to Zoopla were led by Reigate in Surrey where the average price was £598,211, down 6.7 per cent since January with Poulton in ninth place down 6.1 per cent.

Barrow led the top 10 with the highest price increase this year, the average being £139,578 up £8,765.

Related topics:ZooplaPoultonUncertaintyBrexitSurrey