New figures show that house prices increased by 3.4% in Preston in March, contributing to the longer-term trend, which has seen property prices in the area achieve 8.6% annual growth.
Land Registry figures show that in March, the average Preston house price was £152,392, a 3.4% increase on February, compared to an average 0.4% increase in the North West, and 0.3% nationally.
Over the last year, the average sale price of property in Preston rose by £12,000 – putting it 29th among the North West’s 39 local authorities with price data for annual growth.
Biggest wins
Owners of detached houses saw the biggest improvement in prices in Preston in March – they increased 3.9%, to £289,359 on average.
Next were semi-detached, up 3.6% monthly to £170,625; terraced, up 3% to £118,247; and flats, up 2.9% to £83,205,
First steps on the property ladder
First-time buyers in Preston spent an average of £124,800 on their property – £9,000 more than a year ago, and £22,300 more than March 2017.
By comparison, former owner-occupiers paid £177,000 on average in March.
How do prices in Preston compare?
Buyers paid 25.7% less than the average price in the North West (£205,000) in March for a property in Preston, whilst nationally the average is £278,000.
The most expensive properties in the North West were in Trafford (£351,000), and cheapest were in Burnley (£111,000).
The highest prices across the UK were in Kensington and Chelsea.
But what can you get for the Preston average?
Take a look at current properties for sale on Zoopla below:
. Average= £152,392 in March
What can you get for the average house price in Preston? Image: natik_1123 on Pixabay. Photo: natik_1123 on Pixabay.
. £152,000: 2 bed semi-detached house
On Dunnock Lane, Cottam PR4. Has 2 baths, 2 reception rooms, a fitted kitchen, a private drive, good sized garden, and is in a quiet cul-de-sac. Photo: Northwood - Preston
. £150,400: 2 bed semi-detached house
"Bailey" at Juniper Drive, Cottam, Preston PR4. Has 2 reception rooms, 2 bathrooms, an open plan kitchen/dining area, driveway parking and turfed gardens. Photo: Story Homes - Waterside
1. £152,000: 2 bed semi-detached house
On Dunnock Lane, Cottam PR4. Has 2 baths, 2 reception rooms, a fitted kitchen, a private drive, good sized garden, and is in a quiet cul-de-sac. Photo: Northwood - Preston
2. £150,400: 2 bed semi-detached house
"Bailey" at Juniper Drive, Cottam, Preston PR4. Has 2 reception rooms, 2 bathrooms, an open plan kitchen/dining area, driveway parking and turfed gardens. Photo: Story Homes - Waterside
3. £150,000: 5 bed property
On Stanley Place, Preston PR1. Has a spacious reception room, fitted kitchen, two bathrooms and five individually let bedrooms. Photo: Farrell Heyworth - Preston Area
4. £150,000: 2 bed lodge *pitch only*
Bowland Lakes Leisure Village, Cleveley Bridge Bank Lane, Forton, Lancashire PR1. Prices start at £150,000 for a 2 bed, 1 bath, 1 reception room overlooking the lake. Photo: Unique Estate Agency Ltd - Thornton-Cleveleys