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

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

But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 0.1% annual decline.

The average Blackpool house price in December was £136,835, Land Registry figures show – a 0.5% increase on November.

Over the month, the picture was different to that across the North West, where prices increased 2.5%, but Blackpool was above the 0.1% rise for the UK as a whole.

Over the last year, the average sale price of property in Blackpool fell by £150 – putting the area 17th 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 9.8%, to £253,000.

At the other end of the scale, properties in Hyndburn lost 7.8% of their value, giving an average price of £120,000.

Average house prices in Lancashire

The average Wyre house price in December was £195,026 - a 0.8% decrease on November.

Fylde saw a 1.3% increase in December, with average house prices being £238,865.

The average Preston house price in December was £163,251 – a 1.8% increase on November.

House prices dropped by 1.8% in South Ribble in December, with the average house being £206,425.

The average Chorley house price in December was £240,897 - a 0.4% increase on November.

Blackburn with Darwen saw house prices increase by 1.3%, with the average cost being £144,967.

First steps on the property ladder

First-time buyers in Blackpool spent an average of £121,570 on their property – £280 less than a year ago, but £27,990 more than in December 2018.

By comparison, former owner-occupiers paid £147,760 on average in December – 21.5% more than first-time buyers.

Property types

Owners of semi-detached houses saw the biggest rise in property prices in Blackpool in December – they increased 0.8%, to £157,910 on average. Over the last year, prices rose by 1.1%.

Among other types of property:

• Detached: up 0.3% monthly; up 0.2% annually; £231,156 average
• Terraced: up 0.2% monthly; down 1% annually; £115,849 average
• Flats: up 0.2% monthly; down 2.2% annually; £79,618 average

How do property prices in Blackpool compare?

Buyers paid 37.3% less than the average price in the North West (£218,000) in December for a property in Blackpool.

Across the North West, property prices are low compared to those across the UK, where the average cost is £285,000.

The most expensive properties in the North West were in Trafford – £366,000 on average, and 2.7 times the price as in Blackpool.

Trafford properties cost 3.4 times the price as homes in Burnley (£107,000 average), at the other end of the scale.

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