Blackpool house prices have risen more than the average in the North West, new data shows

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.6% over the last year.

The average Blackpool house price in June was £134,882, Land Registry figures show – a 2.4% increase on May.

Over the month, the picture was different to that across the North West, where prices increased 1.2%, and Blackpool was above the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Blackpool rose by £3,400 – putting the area 26th among the North West’s 35 local authorities with price data for annual growth.

Wyre and Fylde house prices

In Wyre, however, house prices remained steady in in June, the data shows.

The lack of movement maintains the longer-term trend, which has seen property prices in the area grow by 0.1% over the last year.

The average Wyre house price in June was £191,081, Land Registry figures show – largely unchanged from May.

Over the month, the picture was different to that across the North West, where prices increased 1.2%, and Wyre was lower than the 0.7% rise for the UK as a whole.

House prices dropped by 1.1% in Fylde in June, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 7.5% over the last year.

The average Fylde house price in June was £241,662, Land Registry figures show – a 1.1% decrease on May.

Over the month, the picture was different to that across the North West, where prices increased 1.2%, and Fylde was lower than the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Fylde rose by £17,000 – putting the area third among the North West’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in Rossendale, where property prices increased on average by 9.2%, to £201,000. At the other end of the scale, properties in Hyndburn lost 3.7% of their value, giving an average price of £118,000.

First steps on property ladder In Blackpool

First-time buyers in Blackpool spent an average of £119,700 on their property – £2,800 more than a year ago, and £29,300 more than in June 2018.

By comparison, former owner-occupiers paid £145,800 on average in June – 21.8% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in Blackpool in June – they increased 2.6%, to £114,017 on average. Over the last year, prices rose by 1.8%.

Among other types of property:

Detached: up 2% monthly; up 2.8% annually; £228,788 average

Semi-detached: up 2.3% monthly; up 3.2% annually; £154,770 average

Flats: up 2.5% monthly; up 2.1% annually; £80,341 average

How do property prices in Blackpool compare?

Buyers paid 37.4% less than the average price in the North West (£216,000) in June 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 – £362,000 on average, and 2.7 times the price as in Blackpool. Trafford properties cost 3.1 times the price as homes in Burnley (£117,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, with an average price of £1.3 million.

Factfile

Average property price in June

Blackpool: £134,882

The North West: £215,631

UK: £287,546

Annual growth to June

Blackpool: +2.6%

The North West: +3.5%

UK: +1.7%

Highest and lowest annual growth in the North West

Rossendale: +9.2%

Hyndburn: -3.7%