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    Revised plans for Voreda House welcomed by town councillors

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    Penrith Toffee Shop’s website goes into meltdown following ITV appearance with James Martin

    Penrith Toffee Shop’s website goes into meltdown following ITV appearance with James Martin

    North Cumbria Integrated Care Trust cares for 75 COVID-19 patients in hospital

    More than a dozen new coronavirus deaths at North Cumbria Integrated Care Trust

    Fly-tipping in village leads to council probe

    Rubbish fly-tipped more than 300 times in Eden

    Tony Pears’ mission to clean up Penrith streets

    Tony Pears’ mission to clean up Penrith streets

    Man’s body found in Ullswater area

    Police probe after two men assaulted in Penrith

    Penrith Toffee Shop’s starring role on ITV’s Lorraine – watch the interview

    Penrith Toffee Shop’s starring role on ITV’s Lorraine – watch the interview

    History being made as COVID-19 vaccines rolled out

    COVID-19: latest vaccine data across Cumbria

  • Sport
    Nikki Han completes ultra running challenge for second time

    Nikki Han completes ultra running challenge for second time

    Accolades for Penrith Swimming Club stalwarts

    Accolades for Penrith Swimming Club stalwarts

    Greystoke-based jockey flying flag for northern Jump racing

    Greystoke-based jockey flying flag for northern Jump racing

    Football is in the lap of the gods says Danny Grainger ahead of PM’s road map for recovery

    Football is in the lap of the gods says Danny Grainger ahead of PM’s road map for recovery

    Grand National could be on the cards after big race win at 40-1

    Grand National could be on the cards after big race win at 40-1

    O’Reilly Wealth Management now major sponsor of Keswick Cricket Club

    O’Reilly Wealth Management now major sponsor of Keswick Cricket Club

    Keswick Mountain Festival challenges off-road cyclists with new gravel event

    Keswick Mountain Festival challenges off-road cyclists with new gravel event

    Penrith AFC bosses praise Grant Davidson as he clocks up more than 500 games

    Penrith AFC bosses praise Grant Davidson as he clocks up more than 500 games

    Carlisle United at top of table is exciting says Gavin Skelton – but vital for team to focus

    Carlisle United at top of table is exciting says Gavin Skelton – but vital for team to focus

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    Top prices at British Limousin Cattle Society spring sale

    Top prices at British Limousin Cattle Society spring sale

    £1 million interim profits for H&H Group

    £1 million interim profits for H&H Group

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    Free online funding sessions for Lake District farmers

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    “We went home and cried our tears” – remembering foot and mouth 20 years on

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Home Property

Cumbria house prices increase by more than 1.4 per cent

by CWH
20 January 2021
in Property, Featured
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Picture: PA

House prices increased by 1.4 per cent – more than the average for the North West – in Cumbria in November, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 5.9 per cent annual growth.

The average Cumbria house price in November was £168,558, Land Registry figures show – a 1.4 per cent increase on October.

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Over the month, the picture was better than that across the North West, where prices increased 0.2 per cent, and Cumbria outperformed the 1.2 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Cumbria rose by £9,400 – putting the area 30th among the North West’s 43 local authorities for annual growth.

The best annual growth in the region was in Burnley, where property prices increased on average by 15.4 per cent, to £99,000.

At the other end of the scale, properties in Ribble Valley gained 0.4 per cent in value, giving an average price of £219,000.

Winners and losers

Owners of detached houses saw the biggest improvement in property prices in Cumbria in November – they increased 1.5 per cent, to £278,349 on average.

Over the last year, prices rose by 7.5 per cent.

Among other types of property:

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Semi-detached: up 1.4 per cent monthly; up six per cent annually; £169,138 average

Flats: up 0.4 per cent monthly; up 1.5 per cent annually; £113,113 average

First steps on the property ladder

First-time buyers in Cumbria spent an average of £139,300 on their property – £7,100 more than a year ago, and £17,900 more than in October 2015.

By comparison, former owner-occupiers paid £195,200 on average in November – 40.2 per cent more than first-time buyers.

How do property prices in Cumbria compare?

Buyers paid 6.5 per cent less than the average price in the North West (£180,000) in November for a property in Cumbria.

Across the North West, property prices are low compared to those across the UK, where the average cost £250,000.

The most expensive properties in the North West were in Trafford – £312,000 on average, and 1.8 times as much as in Cumbria.

Trafford properties cost 3.1 times as much as homes in Burnley (£99,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average November sale price of £1.5 million could buy 16 properties in Blaenau Gwent (average £95,000).

Factfile
  • Average property price in November Cumbria: £168,558
  • The North West: £180,280UK: £249,633
  • Annual growth to November Cumbria: +5.9 per cent
  • The North West: +8.5 per cent
  • UK: +7.6 per cent
  • Best and worst annual growth in the North West Burnley: +15.4 per cent; Ribble Valley: +0.4 per cent
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