Are Blackpool Property Prices Falling?

Blackpool is famous for its sandy beaches, beautiful coastline and vibrant entertainment scene. With its community spirit and improving employment rates, Blackpool is a town starting to move beyond its reputation as simply a holiday destination. 

Despite this, current trends show that house sales in Blackpool are falling. The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 0.3% annual decline. In this helpful guide, we’ll take a look at the current state of the Blackpool property market, and what the future holds for this seaside town.

Blackpool property market

The average property price in Blackpool is currently £146,984, which is almost half the UK average of £287,924. Where there was a 0.5% rise in property prices in the UK this year, Blackpool did not see this rise, and the rest of the North West only increased by 0.3%. Over the last year, the average sale price of property in Blackpool fell by £370 – putting the area 31st among the North West’s 35 local authorities with price data for annual growth. 

As of August 2024, OnTheMarket reported that the average sold price for a property in Blackpool fell 6.0% over the last 12 months. Here is a glance at how different types of property have fared over the last year: 

• Detached properties in Blackpool have seen a 1.8% annual decline, with an average price of £216,101. 
• Semi-detached properties have seen a 0.2% annual increase, with an average price of £153,596. 
• Terraced properties have seen a 0.4% annual increase, with an average price of £115,213. 
• Flats have seen a 3.5% decrease in average price over the year to mid-2024. 

The future outlook for Blackpool

While the property prices in Blackpool are decreasing, the outlook for the housing market in Blackpool is more positive when looking to 2025 and beyond.

Inflation is beginning to fall which is causing mortgage rates to plateau/decrease, and property prices in the North West are generally more affordable than other areas of the UK (with Blackpool being one of the most affordable) which has helped to bring some demand back into the market. 

Having been awarded £90m of government money to help transform the town’s housing, it is clear that a great deal of effort is being put into improving the Blackpool property market. And with the market starting to look up, now could be a good time to invest in property with a chance of making lucrative returns.

How to sell your house in Blackpool with SellHouseFast.co.uk

If you’re a homeowner looking to sell your house fast and for the best price, we can help. As cash house buyers, you won’t need to worry about your sale falling through as you’d be selling your property directly to us. Once you’ve received your free cash offer via our website, you’ll be appointed with a solicitor at our expense, and we’ll even cover the cost of a surveyor to confirm the valuation of your property. If at this stage you agree to go ahead with our final offer, you could receive your property funds incredibly fast.

Get a free cash offer for your property today and start the ball rolling on your Blackpool property sale.