Blackpool Annual Housing Market Index
Highlights:
• The average price of a home in Blackpool in 2007 was £125,599
• The average house price in Blackpool has increased 4.1% since 2006 (up from £120,643 and up 4.4% between 2005 and 2006)
• The overall number of property sales in Blackpool was down 28.5% on figures for 2006
• Terraced homes proved the most popular properties with homebuyers in Blackpool, making up 50.5% of sales in 2007 and 48.3% in 2006
• Terraced homes experienced the strongest price growth in 2007, with prices up 4.8% on 2006
• Detached homes showed the weakest level of price growth in 2007, with prices up by 1.7%
House Prices & House Sales
While average house prices rose by 4.1% in 2007, the Blackpool property market experienced a decrease in sales, with the total number of sales down -28.5% on the previous year. However, all property types recorded positive price growth in 2007, led by terraced homes, which surged 4.8% with the average price finishing the year on £125,599, up from £120,643 in 2006.
Summary:
The Blackpool property market saw a fall in the number of sales in 2007, down 28.5% on 2006. However, typical prices ended the year on a high – up 4.1% since 2006.
The average house price in Blackpool was £125,599 in 2007. While this signifies a positive level of growth on figures for 2006, it shows a sustained slowdown in the city, following previous annual rises of 4.4% between 2005 and 2006 and 12.7% between 2004 and 2005.
Detached properties recorded the smallest price growth in Blackpool during 2007, down 1.7% on the previous year. However, the price of a terraced home, the most frequently bought and sold property type in Blackpool, recorded the largest price increase, up 4.8% on 2006. Terrace homes have consistently topped the property mix, proving popular with a range of homebuyers, making up 50.5% of all sales in 2007, and 48.3% in 2006.
Download the pdf document to view detailed illustrations of the Blackpool housing market
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