Property prices in Blackpool increase

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by Kay Murchie

Research from Email4Property.com has established that property prices in the coastal resort of Blackpool increased by 4%.

According to the organisation, the average property in the area cost £125,599 last year. In 2006, the average property was in 2006, showing an increase of 4%.

Furthermore, over the last 12 months, the minimum prices for a property in the town has increased from £15,000 to £25,000.

The most expensive property sold in Blackpool increased from £630,000 to £900,000, a rise of 41%.

The organisation, which links local estate agents local estate agent websites into a national database, discovered that the most popular properties amongst homebuyers in Blackpool were terraced houses, making up 50.5% of sales last year and 48.3% the previous year.

David Bexon of Email4Property said homebuyers in Blackpool have long favoured traditional terraced homes, many of which are conveniently located in the streets leading from the seafront into the town centre and around Blackpool hospital.

Sales of terraces have constantly outperformed other property types, although the average price of £109,415 falls well under the national average and stamp duty threshold of £125,000, added Mr Bexon.

However, the total number of sales in the town has seen a significant downturn with 3,781 properties sold in 2006 compared with just 2,704 sales completed in 2007, a fall of 28%.