House prices across the Fylde Coast see a mixed bag of results, new figures show

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It was a mixed bag for house price trends on the Fylde Coast for March.

House prices increased slightly, by 0.5%, in Blackpool in March, new figures show.

But it is a slightly different picture in Fylde and Wyre where prices have fallen xx and 1.9% respectively.

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The rise contributes to the longer-term trend, which has seen property prices in the area grow by 1.7% over the last year.

The average Blackpool house price in March was £135,596. Land Registry figures show a 0.5% increase on February.

Over the month, the picture was different to that across the North West, where prices increased 1.1%, and Blackpool was lower than the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Blackpool rose by £2,200 – putting the area 21st among the North West’s 35 local authorities with price data for annual growth.

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This amazing shot of Blackpool from above was captured by Blackpool Gazette Camera Club member Dave Hetherington PhotographyThis amazing shot of Blackpool from above was captured by Blackpool Gazette Camera Club member Dave Hetherington Photography
This amazing shot of Blackpool from above was captured by Blackpool Gazette Camera Club member Dave Hetherington Photography | This amazing shot of Blackpool from above was captured by Blackpool Gazette Camera Club member Dave Hetherington Photography

The highest annual growth in the region was in West Lancashire, where property prices increased on average by 12.3%, to £246,000. At the other end of the scale, properties in Burnley lost 8.2% of their value, giving an average price of £103,000.

The drop in Wyre contributes to the longer-term trend, which has seen property prices in the area suffer a 0.8% annual decline.

The average Wyre house price in March was £184,212. Land Registry figures show a 1.9% decrease on February.

Over the month, the picture was different to that across the North West, where prices increased 1.1%, and Wyre was lower than the 0.7% rise for the UK as a whole.

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Over the last year, the average sale price of property in Wyre fell by £1,500 – putting the area 29th among the North West’s 35 local authorities with price data for annual growth.

But the drop in Fylde does not reverse the longer-term trend, which has seen property prices in the area grow by 3.1% over the last year.

The average Fylde house price in March was £238,962. Land Registry figures show a 0.5% decrease on February.

Over the month, the picture was different to that across the North West, where prices increased 1.1%, and Fylde was lower than the 0.7% rise for the UK as a whole.

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Over the last year, the average sale price of property in Fylde rose by £7,200 – putting the area ninth 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 £120,800 on their property – £1,900 more than a year ago, and £27,900 more than in March 2019.

By comparison, former owner-occupiers paid £145,900 on average in March – 20.8% more than first-time buyers.

First-time buyers in Wyre spent an average of £153,100 on their property – £1,800 less than a year ago, but £28,600 more than in March 2019.

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By comparison, former owner-occupiers paid £201,500 on average in March – 31.6% more than first-time buyers.

First-time buyers in Fylde spent an average of £186,000 on their property – £5,900 more than a year ago, and £38,800 more than in March 2019.

By comparison, former owner-occupiers paid £271,500 on average in March – 46% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in Blackpool in March – they increased 0.8%, to £222,459 on average. Over the last year, prices rose by 1.5%.

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Owners of terraced houses saw the biggest fall in property prices in Wyre in March – they dropped 2.5% in price, to £140,570 on average. Over the last year, prices dropped by 1.8%.

Owners of terraced houses saw the biggest fall in property prices in Fylde in March – they dropped 0.6% in price, to £199,456 on average. But over the last year, prices rose by 3.2%.

Among other types of property in Blackpool:

Semi-detached: up 0.6% monthly; up 2.3% annually; £156,005 average

Terraced: up 0.2% monthly; up 1.5% annually; £115,655 average

Flats: up 0.7% monthly; down 0.7% annually; £80,915 average

Among other types of property in Wyre:

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Detached: down 0.9% monthly; up 1.8% annually; £280,937 average

Semi-detached: down 2.1% monthly; down 1.1% annually; £178,059 average

Flats: down 2.3% monthly; down 4.7% annually; £96,581 average

Among other types of property in Fylde:

Detached: down 0.2% monthly; up 3.8% annually; £368,611 average

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Semi-detached: down 0.6% monthly; up 4.2% annually; £249,352 average

Flats: down 0.6% monthly; up 0.6% annually; £131,022 average

How do property prices on Fylde Coast compare?

Buyers paid 37.4% less than the average price in the North West (£217,000) in March for a property in Blackpool. Across the North West, property prices are low compared to those across the UK, where the average cost is £283,000.

Buyers paid 14.9% less than the average price in the North West (£217,000) in March for a property in Wyre. Across the North West, property prices are low compared to those across the UK, where the average cost is £283,000.

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Buyers paid 10.4% more than the average price in the North West (£217,000) in March for a property in Fylde. Across the North West, property prices are low compared to those across the UK, where the average cost is £283,000.

The most expensive properties in the North West were in Trafford – £357,000 on average, and 2.6 times the price as in Blackpool. Trafford properties cost 3.5 times the price as homes in Burnley (£103,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in March

Blackpool: £135,596

Wyre: £184,212

Fylde: £238,962

The North West: £216,501

UK: £282,776

Annual growth to March

Blackpool: +1.7%

Wyre: -0.8%

Fylde: +3.1%

The North West: +3.8%

UK: +1.8%

Highest and lowest annual growth in the North West

West Lancashire: +12.3%

Burnley: -8.2%

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