House prices increased by 0.5% in Blackpool in July, new Land Registry figures show

House prices increased by 0.5% – more than the average for the North West – in Blackpool in July, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 1.3% over the last year.

The average Blackpool house price in July was £135,873, Land Registry figures show – a 0.5% increase on June.

Over the month, the picture was similar to that across the North West, where prices increased 0.3%.

Over the last year, the average sale price of property in Blackpool rose by £1,700 – putting the area 25th among the North West’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in West Lancashire, where property prices increased on average by 9.1%, to £242,000. At the other end of the scale, properties in Halton lost 2.6% of their value, giving an average price of £180,000.

First steps on the property ladder

First-time buyers in Blackpool spent an average of £120,600 on their property – £1,300 more than a year ago, and £27,700 more than in July 2018.

By comparison, former owner-occupiers paid £146,900 on average in July – 21.9% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in Blackpool in July – they increased 0.7%, to £115,280 on average. Over the last year, prices rose by 0.7%.

Among other types of property:

• Detached: up 0.5% monthly; up 2% annually; £230,469 average
• Semi-detached: up 0.4% monthly; up 1.7% annually; £155,611 average
• Flats: down 0% monthly; up 0.5% annually; £80,462 average

How do property prices in Blackpool compare?

Buyers paid 37% less than the average price in the North West (£216,000) in July for a property in Blackpool. Across the North West, property prices are low compared to those across the UK, where the average cost is £290,000.

The most expensive properties in the North West were in Trafford – £362,000 on average, and 2.7 times the price as in Blackpool. Trafford properties cost 3.2 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.

Factfile

Average property price in July

• Blackpool: £135,873
• The North West: £215,648
• UK: £289,824

Annual growth to July

• Blackpool: +1.3%
• The North West: +1%
• UK: +0.6%

Highest and lowest annual growth in the North West

• West Lancashire: +9.1%
• Halton: -2.6%