Is now the right time to buy a house in Lancashire? House prices changes in explained

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Is now the right time to buy a house in Lancashire? House prices changes in explained
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It’s been a mixed bag when it comes to house prices in Lancashire this month.

It’s been a mixed bag when it comes to house prices changes in Lancashire in February. House prices dropped slightly, by 0.1%, in Preston 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 1.4% over the last year. The average Preston house price in February was £158,883, Land Registry figures show – a 0.1% decrease on January.

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.

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