Lancashire is known for its rich history, picturesque countryside, and thriving industry.
Like many regions, property prices have undergone significant changes over the years.
Data shows that on average, homeowners in Lancashire have seen a £159,894 increase in the value of their property over the two decades since January 2004
In this blog post, we will delve into property market trends in Lancashire and explore the areas that have experienced the most and least changes in house prices in Lancashire over the past 20 years.
Areas with the Most Price Increases
According to the data from Purplebricks, several areas in Lancashire have witnessed substantial growth in property prices. The area that has led the way is Pendle, which has seen a massive 160% hike in average house prices since 2004.
Another area that has performed particularly well is Rossendale, where the average house price is now £209,896, 160% higher than in 2004.
Areas with Least Price Increases
On the other hand, some areas in Lancashire have experienced relatively less growth in property prices. Blackpool has seen the lowest increase in house prices with just a 58% difference of £48,630.
Wyre is not far behind in the statistics, with the average house price being £194,776 now, a 70% uplift from 2004.
The changing landscape of property prices in Lancashire reflects the evolving dynamics of the local economy and the demand for housing in different areas. While some areas have experienced substantial price increases, others have seen more modest growth. Understanding these trends can help homeowners, property investors, and developers make informed decisions about their investments and developments.
Lea Hough Chartered Surveyors have been working in the Lancashire region for over 40 years and have a vast amount of knowledge about the region’s property market, As a trusted provider of property valuation and surveying services, we are able to help property owners, prospective owners and investors navigate the changing landscape.
To speak to a member of our team about our property survey and valuation services, please get in touch.
