Property prices in City of Peterborough

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Latest prices in City of Peterborough for Detached properties

The latest figures show that the average price for a Detached property in City of Peterborough has now reached £372,515 as of Feb 2024. This value is based upon the average value of completed property transactions in the month of February.

Average prices for a Detached property have increased substantially over the longer term in City of Peterborough. Back in January 1995, prices for this type of property averaged £69,480 based on sales at the time. Fast forward to January 2024, and averages reached £370,250 - representing a growth of 433% over 29 years.

This substantial triple-digit percentage rise in Detached property values far outpaced broader inflation over the same period. Rising household incomes, strong local economy, high demand and constrained supply all likely contributed to the steep price inflation seen for Detached homes in City of Peterborough over the past 3 decades.

Our data is sourced directly from HM Land Registry and their UK House Price Index report. This dataset is updated several times a year and we always attempt to have the most up to data information available.

The UK HPI uses sales data collected on residential housing transactions, whether for cash or with a mortgage. Properties have been included in England and Wales since January 1995, in Scotland since January 2004, and in Northern Ireland since January 2005, Data is available at a national and regional level, as well as counties, local authorities and London boroughs.

Cited from HM Land Registry

Detached prices in City of Peterborough over the last 12 months

DatePrice
Mar 2023£396,261
Apr 2023£396,282
May 2023£392,121
Jun 2023£388,643
Jul 2023£391,994
Aug 2023£394,572
Sep 2023£397,344
Oct 2023£395,734
Nov 2023£379,114
Dec 2023£375,515
Jan 2024£370,250
Feb 2024£372,515

Recent trends for prices in City of Peterborough

The latest figures from February 2024 indicate the property market in City of Peterborough continues to show rising price trends. Compared to January, 2024, average prices increased by 1.1% to £233,413. On an annual basis, average property prices have decreased -3.6% since 12 months ago.

In terms of sales activity, there were 58 residential property transactions completed in City of Peterborough during February, 2024. Of these purchases, 29 were financed with a mortgage while 7 were all-cash sales. For cash buyers, average prices have changed by 0.8% since January, 2024, coming in at around £219,224. For properties purchased with a mortgage, the average price changed by 1.2% since January, 2024, to £238,279.

Compared to the overall picture in its national parent England, the average property price in City of Peterborough are lower than the current national average of £297,735. While City of Peterborough saw a change of 1.1% over the last month, England as a whole recorded a percentage change of 0.6% in average property values. And on an annual basis, prices across England have contracted by -1.1%, more than the -3.6% yearly change seen in City of Peterborough.

Interested in purchasing a property in City of Peterborough? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.

Average price in City of Peterborough by housing type

Prices last recorded in February, 2024

average

£233,413

detached

£372,515

flat

£118,983

semi-detached

£241,141

terraced

£186,348

Prices by housing type in City of Peterborough

Recent data shows that price growth has varied across different property types in City of Peterborough over the last year. For terraced houses, property prices changed by 0.9% between February 2024 and January 2024 to reach £186,348, and changed by -5% over the last 12 months. The annual change was greater than the -1.7% change seen for terraced homes in England overall.

Meanwhile, semi-detached properties saw a rise in average prices locally, taking them to £241,141 in January 2024. This represents a 1.4% change from the same month last year.This is underperforming the 0.2% annual change in semi-detached values across the country.

Detached homes in City of Peterborough gained 1.1% month-over-month to reach an average of £372,515. Annually, detached property values have changed by -3%. This is weaker price growth compared to England's -0.5% change for detached houses over the year.

For apartments and flats, average prices increased by 0.8% between February and January 2024, hitting £118,983. Over the last 12 months, apartment values have changed by -6.5%, lagging England's flat and apartment growth rate of -2.8%.

Overall, semi-detached properties have seen the strongest price momentum locally over the past year, with a change of -2%, while flat properties lagged, with a change of -6.5%.

Recent purchases in City of Peterborough

According to data from HM Land Registry, there were 58 completed property purchases in the area of City of Peterborough in February 2024. Of these sales, 7 were recorded as cash purchases whilst 29 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by -3.4% and the percentage of properties purchased with cash has changed by -4.6%.

The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website

Looking for a specific property type?

Use one of the following links to find more specific information about the type of property you're looking for in city-of-peterborough.

All property prices in city-of-peterborough

Semi-Detached property prices in city-of-peterborough

Terraced property prices in city-of-peterborough

Flat & Apartment property prices in city-of-peterborough

First Time Buyer prices in city-of-peterborough

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