17 C
Lancashire
Sunday, July 21, 2024

Lancashire’s Property Hotspots

Lancashire has long been in the economic shadow of the metropolis that is Manchester and its surrounding area. Greater Manchester is a major populous hub and boasts an economy nearly twice the size of Lancashire. However, Lancashire is starting to progress and economic development is ongoing in this beautiful region of the North West.

The county is internationally recognised as one of the leading aerospace production regions in the UK and other advanced technology industries have made Lancashire their breeding ground. As such, the future is bright for Lancashire and economic development will surely bring investment in housing, infrastructure and other areas.

Some places in Lancashire are already experiencing a booming property market thanks to the region’s location near Manchester, Liverpool and areas of outstanding natural beauty such as the Lake District and Yorkshire Dales. Below we explore some of Lancashire’s most popular property hotspots.

Lancaster

This city is one of the shining jewels of Lancashire. Sat on the River Lune, it has a spectacular medieval castle and one of the best Universities in the UK. Near to the west is the coast with popular locations such as Heysham and Morecambe, while to the East is the stunning area called the Forest of Bowland. The average property price is just under £200,000 which is great value in comparison to bigger cities – and Lancaster sees an average annual property value growth of around 13%.

Preston

Closer to Manchester is the city of Preston which hasn’t had a great reputation in the past, but local authority initiatives have been having recent success in developing the local economy. This is resulting in increased economic recovery and growth since the pandemic and much interest in the property market – whether it be the development of new houses around Preston or older property development. Its convenient location between Manchester, Lancaster and Liverpool makes it a great opportunity for house buyers and property investors alike.

Heysham

As mentioned earlier, on the coast west of Lancaster lies Heysham which is surprisingly one of the most popular property hotspots in the UK. House prices have seen unbelievable growth in the last few years, but the average prices are still lower than Lancaster meaning there are great opportunities for prospective homeowners and property investors. It’s just down the coast from Morecambe which is a family favourite holiday destination for Brits.

Burnley

Another place with a bad reputation historically is Burnley, but it too is seeing somewhat of a property boom. It ranks in the top 10 places in the UK for property price growth over the last 20 years, and yet average house prices are among the lowest in the region. The town could be a great place to invest or buy property if you’re looking to profit in the long term.

Sam Allcock
Sam Allcockhttps://businesslancashire.co.uk/
Sam Allcock is a highly regarded digital entrepreneur with over 20 years’ experience in online marketing for some of the World’s biggest brands. He has extensive knowledge and experience in SEO and digital marketing. He is based in Cheshire but has an interest in all things going on in the North West and enjoys contributing local news to the site.
spot_imgspot_img

Latest

Rafael Nadal offers scathing verdict on defeat to Borges in Swedish Open final

Rafael Nadal has said it would have been "difficult"...

Jake Paul: Tyson says ‘clock starts’ for Netflix fight date after Perry KO

Boxing icon Mike Tyson has said he is counting...

Bespoke wins Wiserr lead generation contract

Digital marketing agency Bespoke has won a digital marketing contract with Wiserr to...

Dad jailed for murdering two-year-old son

A man has been jailed for life for the...
spot_img

Subscribe to our newsletter

Business Lancashire will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Don't miss

Best Betting Sites UK for July 2024

It isn't an understatement when we say that the...

Dad jailed for murdering two-year-old son

A man has been jailed for life for the...

Best Horse Racing Betting Apps In The UK – July 2024

If you are looking for the top horse racing...

Lancashire charity Unique Kidz celebrates 15 year anniversary

Unique Kidz and Co, a charity providing childcare and...

More News

National Association of Professional Sourcing Agents (NAPSA) Shortlisted for Prestigious Service Provider of the Year Award

The National Association of Professional Sourcing Agents (NAPSA) is delighted to announce its nomination for the prestigious Service Provider of the Year Award at...

LandlordBuyer Reports a Startling Increase in Landlord Possession Actions and Repossessions in Recent Study

LandlordBuyer's latest research has uncovered an alarming escalation in landlord possession claims and repossessions for the last quarter of 2023, with totals reaching 23,282...

incspaces launches all-in-one Virtual Office and Desk Space subscription

incspaces, a leading provider of innovative workspace solutions, is proud to announce the launch of Infinity Office™, the UK’s first all-in-one virtual office and...