Unfortunate to see Preston named in the bottom 10 of a national list. Today’s Times says Preston has the 8th largest decrease in house prices in 2014 with a reduction of 2% to an average of £151,071, according to the Halifax.
The Lancashire towns seem to feature in the list with Bury having the biggest decline, although the north west as a whole didn’t come out badly.
It’s never easy to know how realistic these indices are. There are several and they’re often based on what that particular organisation did. Even if it was based on the total number of houses sold in a year, such as the Land Registry data, it could be effected if most sales happened to be in a certain sector perhaps because of a special grant at that value.
Now if Preston was top it would of course be a true reflection.