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Preston house prices on the up after a strong start to the year

Posted on - 23rd February, 2020 - 12:00pm | Author - | Posted in - Housing, Preston News
Construction of new houses

House prices in Preston increased by an average of £1,194 in December.

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The latest figures from the Land Registry show the average house price in Preston is £128,921 – an increase of 0.93 per cent.

But in South Ribble the average price of a home fell by 1.4 per cent – or £2,369.

The average price for a house in South Ribble is now £165,830, a £7,018 fall from the start of 2019 but still higher than the average home in Lancashire, which stands at £148,454.

Read more: Have your say on plans to create an urban village in the Stonygate area

Linda Kirk, director of conveyancing at Adkirk Law, said the strong start to the year across the county could see large price rises in 2020.

She added: “These headline figures show a varying picture throughout the north west, but real green shoots of growth in Lancashire.

“What we are seeing on the ground this year is a burst of activity in the housing market, now that people see some certainty from the government.

“Many people who wanted to buy or sell their home were waiting until after the general election to make their move, resulting in a large release of properties in the new year which is now leading to growth in the market.

“As a result, we are seeing a jump in house prices across the region, but particularly in thriving pockets of the north west, where some house prices have grown by 10 per cent over the last twelve months.”

Are you planning on buying or selling this year? Let us know your thoughts on the housing market in the comments section.

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