Latest prices in Rossendale for Terraced properties
The latest figures show that the average price for a Terraced property in Rossendale has now reached £167,290 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 Rossendale. Back in January 1995, prices for this type of property averaged £27,964 based on sales at the time. Fast forward to January 2024, and averages reached £165,034 - representing a growth of 490.00000000000006% over 29 years.
This substantial monumental 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 Rossendale 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.
Terraced prices in Rossendale over the last 12 months
Date
Price
Apr 2023
£141,222
May 2023
£145,532
Jun 2023
£152,057
Jul 2023
£152,239
Aug 2023
£149,848
Sep 2023
£148,838
Oct 2023
£154,519
Nov 2023
£154,006
Dec 2023
£165,375
Jan 2024
£165,034
Jan 2024
£165,034
Feb 2024
£167,290
Recent trends for prices in Rossendale
The latest figures from February 2024 indicate the property market in Rossendale continues to show rising price trends. Compared to January, 2024, average prices increased by 1.4% to £212,796. On an annual basis, average property prices have increased 11.7% since 12 months ago.
In terms of sales activity, there were 35 residential property transactions completed in Rossendale during February, 2024. Of these purchases, 21 were financed with a mortgage while 4 were all-cash sales. For cash buyers, average prices have changed by 1.3% since January, 2024, coming in at around £195,784. For properties purchased with a mortgage, the average price changed by 1.4% since January, 2024, to £222,012.
Compared to the overall picture in its national parent England, the average property price in Rossendale are lower than the current national average of £297,735. While Rossendale saw a change of 1.4% 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 11.7% yearly change seen in Rossendale.
Interested in purchasing a property in Rossendale? 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 Rossendale by housing type
Prices last recorded in February, 2024
average
£212,796
detached
£348,102
flat
£142,284
semi-detached
£224,595
terraced
£167,290
Prices by housing type in Rossendale
Recent data shows that price growth has varied across different property types in Rossendale over the last year. For terraced houses, property prices changed by 1.3% between February 2024 and January 2024 to reach £167,290, and changed by 11.2% 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 rise in average prices locally, taking them to £224,595 in January 2024. This represents a 1.6% 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 Rossendale gained 1.3% month-over-month to reach an average of £348,102. Annually, detached property values have changed by 11.9%. This is stronger price growth compared to England's -0.5% change for detached houses over the year.
For apartments and flats, average prices increased by 1.2% between February and January 2024, hitting £142,284. Over the last 12 months, apartment values have changed by 10.8%, surpassing 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 12.6%, while flat properties lagged, with a change of 10.8%.
Recent purchases in Rossendale
According to data from HM Land Registry, there were 35 completed property purchases in the area of Rossendale in February 2024. Of these sales, 4 were recorded as cash purchases whilst 21 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by 11.7% and the percentage of properties purchased with cash has changed by 11.4%.
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?
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