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I moved onto a new street in a village outside Preston (still renting). House prices have remained the same since last year (according to my target price range in Rightmove), but now houses are actually selling again.

The volume of sales according to nethouseprices.com on my new street has typically been 3-4 transactions per year since 2000. They reached a peak in volume transactions during 2003 when 5 were sold. This year so far, 4 properties have changed hands, and not for lower prices.

Prices on my street were typically £70k - £80k during 2000 to 2002. Last year, properties were selling for £138k - £145k, but now properties have sold for £120k - £163k this year.

Asking prices are currently between £150k - £174k. One property has recently been sold stc, and another (next to mine) has received two viewings from one couple - the housing market certainly doesn't seem to be dead where I live.

Sadly, it seems that the Preston housing market is holding up. So long as properties are seen to be shifting, I think any prospect of a crash is likely to be dependant on there being a sharp economic shock in the region - without that, it's still "game on" as far as sellers are concerned.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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