Chorley property prices fell at the start of the year with owners of flats seeing the biggest fall in value, new figures show
House prices dropped by 2.4% in Chorley with the average price being £192.177 but growth trend continues
But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 6.1% annual growth.
The average Chorley house price in January was £192,177, Land Registry figures show – which is a 2.4% decrease on December.
Over the month, the picture was worse than that across the North West, where prices increased 0.7%, and Chorley underperformed compared to the 0.5% drop for the UK as a whole.
Over the last year, the average sale price of property in Chorley rose by £11,000 – putting the area 40th among the North West’s 43 local authorities for annual growth.
Owners of flats fared worst in Chorley in January – they dropped 3.2% in price, to £114,904 on average. But over the last year, prices rose by 2.4%.
In January, the average price of a property in Chorley was £192,177. This is compared to the North West as a whole, where the price was £184,234. The average was £249,309 across the UK.
Here's some property price facts:
Detached: down 2.6% monthly; up 7% annually; £289,194 average
Semi-detached: down 2.1% monthly; up 6% annually; £175,793 average
Terraced: down 2.5% monthly; up 6% annually; £136,756 average
First-time buyers in Chorley spent an average of £155,200 on their property – £8,500 more than a year ago, and £22,200 more than in December 2015.
The most expensive properties in the North West were in Trafford – £331,000 on average, and 1.7 times as much as in Chorley.
The best annual growth in the region was in Liverpool, where property prices increased on average by 23.4%, to £156,000.
The highest property prices across the UK were in Kensington and Chelsea, where the average January sale price of £1.3 million could buy 14 properties in Blaenau Gwent (average £93,000).