Average house prices in the North West increased by 5% in the first quarter of 2017 according to Nationwide. The average price now stands at £152,142 compared to £206,665 nationally.
“There was a mixed picture across the UK in Q1. Six regions saw the pace of house price growth accelerate, six saw a deceleration and one recorded the same rate as the previous quarter. Interestingly, the spread in the annual rate of change between the weakest and strongest performing regions was at its narrowest since 1978 at 6.8 percentage points – the second smallest gap on record” said Robert Gardner Nationwide's Chief Economist.
Commenting on the figures Faye Harper, Residential Conveyancing Director at Blackhurst Budd Solicitors said:
“On a local level we are still seeing a high volume of transactions across the Fylde Coast, however our figures suggest that there has been little increase in house prices in Blackpool over the last 12 months. There has been an increased number of investors buying property in the area, which reflects the national pattern where the 20% of households are now privately rented up from 12% ten years ago.”