House Prices in Preston, Lancashire

# Preston Property Market Summary

Preston's property market demonstrates remarkable affordability, with an average property price of £169,482 across nearly 90,000 properties – significantly below the national average. This Lancashire city offers excellent value for money, particularly for first-time buyers and investors seeking strong rental yields in a well-connected northern location. The market has shown considerable activity, with consistent transaction volumes exceeding 5,000 sales annually in recent years, indicating healthy demand and market liquidity.

The price trend data reveals notable volatility, with average prices climbing from £238,772 in 2017 to peak at £303,344 in 2023, before moderating to £252,766 in 2024. This fluctuation likely reflects shifts in property mix and market composition rather than uniform price movements across all segments. The high sales volumes in 2021-2022 (over 6,400 transactions annually) coincided with the post-pandemic property boom, demonstrating Preston's appeal during this period. The city's combination of affordability, proximity to Manchester, and ongoing regeneration initiatives continue to attract buyers seeking value in the North West property market.