Lancashire has recently emerged as one of the UK’s house price ‘winners’ for 2023. According to data recently published by This is Money, Fylde and West Lancashire have been ranked among the top five areas with the most significant house price rises over the past year.
The list, compiled using the most recent Office for National Statistics (ONS) data, shows that despite the negative press around the topic of house prices, some areas have actually seen prices surge by more than 5 per cent over the last 12 months. The list ranks Fylde as the second area in the UK most likely to have seen house prices rises, with West Lancashire coming in fourth.
There are several key factors contributing to Lancashire’s rising house prices. Firstly, the county’s strategic location offers easy access to major cities such as Manchester and Liverpool, making it a desirable location for commuters. Additionally, Lancashire’s strong job market and affordable housing options attract both young professionals and families alike.
Another factor behind Lancashire’s success is the significant investment in infrastructure. The government has prioritised development in the region, resulting in improved transport links and new business parks. This has not only boosted the local economy but also created opportunities for property development and increased housing demand.
Lancashire’s house price growth is a testament to its desirability and growth potential. With its strong economy, strategic location, and investment in infrastructure, the county and its towns remain resilient as areas to both live in and invest. With continued investment in infrastructure and strong economic prospects, the county is expected to continue attracting home buyers and investors.
Lea Hough Chartered Surveyors continue to remain busy with residential property reports for clients in Lancashire. Our team can provide Valuation Reports for a wide range of purposes, along with Condition Survey Reports to assist with property transactions – including Level 2 Surveys, Level 3 Surveys and new build Snagging Inspection Reports.
Please contact our team to request a quote for any of our surveys or reports. If you are unsure which type of service/report is most suitable for your needs, our friendly team would be happy to advise.
