Cumbria properties see pricing drop since January 2021

9 May 2021

Cumbria Property Prices Drop

Housing prices in Cumbria have seen a decrease since the beginning of 2021, according to official figures.

Homes in Cumbria have fallen by 0.2. However, this drop has not reserved a longer-term trend which has seen property prices in the county achieve an 8.1% annual growth.

The average Cumbria house price in January was £169,928, Land Registry figures show – a 0.2% decrease on December.

Over the month, across the North West prices increased 0.7%, and Cumbria outperformed the 0.5% drop for the UK as a whole.

During the previous 12 months, the average sale price of property in Cumbria rose by £13,000 – putting the area 33rd among the North West’s 43 local authorities for annual growth.

Owners of flats fared the worst in Cumbria during January as they saw a drop of 0.7% in pricing, to £114,248 on average. But over the last year, prices rose by 4%.

Detached homes were down by 0.3% monthly; up 9.5% annually; £279,965 average, where as semi-detached have managed to remain level over the month; being up by 8.1% annually to an average of £170,436.

Terraced houses were also down by 0.2% monthly; but up 7.9% annually; and £133,027 on average.

Buyers paid 7.8% less than the average price in the North West (£184,000) in January for a property in Cumbria.

 

Kirk Shephard – Independent Estate Agent

kirk.shephard@exp.uk.com
07784 375 181