Is now the right time to buy a house on Fylde Coast? House prices changes explained

It’s been a mixed bag when it comes to house prices this month.

Blackpool has seen a slight increase, whereas Fylde and Wyre has seen a drop.

Wyre

House prices dropped by 1.7% – more than the average for the North West – in Wyre in February, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 0.8% over the last year.

The average Wyre house price in February was £189,238, Land Registry figures show – a 1.7% decrease on January.

Over the month, the picture was different to that across the North West, where prices decreased 0.2%, and Wyre was lower than the 0.4% rise for the UK as a whole.

Over the last year, the average sale price of property in Wyre rose by £1,400 – putting the area 18th 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 11.7%, to £213,000. At the other end of the scale, properties in Burnley lost 9.3% of their value, giving an average price of £103,000.

Blackpool

House prices increased slightly, by 0.3%, in Blackpool in February, new figures show.

The rise maintains the longer-term trend, which has seen property prices in the area remain level.

The average Blackpool house price in February was £134,805, Land Registry figures show – a 0.3% increase on January.

Over the month, the picture was different to that across the North West, where prices decreased 0.2%, but Blackpool was lower than the 0.4% rise for the UK as a whole.

Over the last year, the average sale price of property in Blackpool rose by £22 – putting the area 21st 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 11.7%, to £213,000. At the other end of the scale, properties in Burnley lost 9.3% of their value, giving an average price of £103,000.

Fylde

House prices dropped by 1.5% – more than the average for the North West – in Fylde in February, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 4.6% over the last year.

The average Fylde house price in February was £243,415, Land Registry figures show – a 1.5% decrease on January.

Over the month, the picture was different to that across the North West, where prices decreased 0.2%, and Fylde was lower than the 0.4% rise for the UK as a whole.

Over the last year, the average sale price of property in Fylde rose by £11,000 – putting the area fifth among the North West’s 35 local authorities with price data for annual growth.

First steps on the property ladder

First-time buyers in Blackpool spent an average of £120,257 on their property – £18 less than a year ago, but £28,010.524 more than in February 2019.

By comparison, former owner-occupiers paid £144,862 on average in February – 20.5% more than first-time buyers.

First-time buyers in Wyre spent an average of £157,430 on their property – £550 more than a year ago, and £33,040 more than in February 2019.

By comparison, former owner-occupiers paid £206,840 on average in February – 31.4% more than first-time buyers.

First-time buyers in Fylde spent an average of £189,600 on their property – £8,600 more than a year ago, and £38,700 more than in February 2019.

By comparison, former owner-occupiers paid £276,400 on average in February – 45.8% more than first-time buyers.

Property types

Owners of semi-detached houses saw the biggest rise in property prices in Blackpool in February – they increased 0.4%, to £155,221 on average. Over the last year, prices rose by 1%.

Among other types of property:

Detached: up 0.3% monthly; up 0.3% annually; £220,763 average

Terraced: up 0.3% monthly; down 0.5% annually; £115,022 average

Flats: down 0.1% monthly; down 2.4% annually; £80,407 average

Owners of flats saw the biggest fall in property prices in Wyre in February – they dropped 2.4% in price, to £99,852 on average. Over the last year, prices dropped by 2.9%.

Among other types of property:

Detached: down 1.4% monthly; up 3.2% annually; £286,480 average

Semi-detached: down 1.7% monthly; up 0.6% annually; £183,311 average

Terraced: down 1.7% monthly; down 0.4% annually; £144,934 average

Owners of flats saw the biggest fall in property prices in Fylde in February – they dropped 1.9% in price, to £133,916 on average. But over the last year, prices rose by 2.2%.

Among other types of property:

Detached: down 1.4% monthly; up 5.4% annually; £374,153 average

Semi-detached: down 1.3% monthly; up 5.9% annually; £254,440 average

Terraced: down 1.3% monthly; up 4% annually; £202,717 average

How do property prices on the Fylde Coast compare?

Buyers paid 37% less than the average price in the North West (£214,000) in February for a property in Blackpool. Across the North West, property prices are low compared to those across the UK, where the average cost is £281,000.

Buyers paid 11.5% less than the average price in the North West (£214,000) in February for a property in Wyre.

Buyers paid 13.8% more than the average price in the North West (£214,000) in February for a property in Fylde. 

Across the North West, property prices are low compared to those across the UK, where the average cost is £281,000. The highest property prices across the UK were in Kensington and Chelsea.

The most expensive properties in the North West were in Trafford – £354,000 on average, and 2.6 times the price as in Blackpool. Trafford properties cost 3.4 times the price as homes in Burnley (£103,000 average), at the other end of the scale.

Average property price in February

Blackpool: £134,805

Fylde: £243,415

Wyre: £189,238

The North West: £213,890

UK: £280,660

Annual change to February

Blackpool: 0%

Fylde: +4.6%

Wyre: +0.8%

The North West: +1.4%

UK: -0.2%

Highest and lowest annual growth in the North West

Rossendale: +11.7%

Burnley: -9.3%