Property prices in Preston

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Latest prices in Preston for Terraced properties

The latest figures show that the average price for a Terraced property in Preston has now reached £124,443 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 Terraced property have increased substantially over the longer term in Preston. Back in January 1995, prices for this type of property averaged £33,289 based on sales at the time. Fast forward to January 2024, and averages reached £125,679 - representing a growth of 278% over 29 years.

This substantial triple-digit percentage rise in Terraced 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 Terraced homes in Preston 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

Terraced prices in Preston over the last 12 months

Mar 2023£124,388
Apr 2023£121,686
May 2023£120,909
Jun 2023£123,501
Jul 2023£125,593
Aug 2023£129,287
Sep 2023£128,263
Oct 2023£128,932
Nov 2023£126,388
Dec 2023£127,237
Jan 2024£125,679
Feb 2024£124,443

Recent trends for prices in Preston

The latest figures from February 2024 indicate the property market in Preston continues to show falling price trends. Compared to January, 2024, average prices decreased by -0.1% to £158,883. On an annual basis, average property prices have increased 1.4% since 12 months ago.

In terms of sales activity, there were 60 residential property transactions completed in Preston during February, 2024. Of these purchases, 19 were financed with a mortgage while 21 were all-cash sales. For cash buyers, average prices have changed by -0.2% since January, 2024, coming in at around £137,723. For properties purchased with a mortgage, the average price changed by 0% since January, 2024, to £169,902.

Compared to the overall picture in its national parent England, the average property price in Preston are lower than the current national average of £297,735. While Preston saw a change of -0.1% 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%, less than the 1.4% yearly change seen in Preston.

Interested in purchasing a property in Preston? 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 Preston by housing type

Prices last recorded in February, 2024











Prices by housing type in Preston

Recent data shows that price growth has varied across different property types in Preston over the last year. For terraced houses, property prices changed by -0.3% between February 2024 and January 2024 to reach £124,443, and changed by -1% over the last 12 months. The annual change was less than the -1.7% change seen for terraced homes in England overall.

Meanwhile, semi-detached properties saw a fall in average prices locally, taking them to £179,815 in January 2024. This represents a -0.1% change from the same month last year.This is outperforming the 0.2% annual change in semi-detached values across the country.

Detached homes in Preston gained 0.3% month-over-month to reach an average of £293,727. Annually, detached property values have changed by 5.2%. This is stronger price growth compared to England's -0.5% change for detached houses over the year.

For apartments and flats, average prices decreased by -0.2% between February and January 2024, hitting £88,465. Over the last 12 months, apartment values have changed by 0.3%, surpassing England's flat and apartment growth rate of -2.8%.

Overall, detached properties have seen the strongest price momentum locally over the past year, with a change of 5.2%, while terraced properties lagged, with a change of -1%.

Recent purchases in Preston

According to data from HM Land Registry, there were 60 completed property purchases in the area of Preston in February 2024. Of these sales, 21 were recorded as cash purchases whilst 19 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by 1.8% and the percentage of properties purchased with cash has changed by 0.4%.

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

All property prices in preston

Detached property prices in preston

Semi-Detached property prices in preston

Flat & Apartment property prices in preston

First Time Buyer prices in preston

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