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Cumberland and Westmorland Herald
  • News
    MP asks for Government help over plans to replace M6 bridges

    MP asks for Government help over plans to replace M6 bridges

    Resurfacing work to start in Shap – road to be closed for 21 days

    Resurfacing work to start in Shap – road to be closed for 21 days

    Arrests after drugs raid in Penrith

    Arrests after drugs raid in Penrith

    New Kirkby Stephen shop blends retail with purpose

    New Kirkby Stephen shop blends retail with purpose

    New vicar appointed for churches

    New vicar appointed for churches

    Award for Eden writer

    Award for Eden writer

    Penrith man admits possessing cannabis twice with intent to supply

    Penrith man admits possessing cannabis twice with intent to supply

    Risks and strategies for flexible pension drawdown

    Risks and strategies for flexible pension drawdown

    Man arrested after fleeing from police in Penrith

    Man arrested after fleeing from police in Penrith

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    Medal success for Upper Eden tug-of-war team

    Medal success for Upper Eden tug-of-war team

    Eden man competes in Hyrox World Games

    Eden man competes in Hyrox World Games

    Double national triumph for Stuart Robinson

    Double national triumph for Stuart Robinson

    Patterdale’s Eden Eagles make history

    Patterdale’s Eden Eagles make history

    Penrith teen crowned British vault champion

    Penrith teen crowned British vault champion

    Penrith gymnasts represent North of England in finals

    Penrith gymnasts represent North of England in finals

    New boss revealed for Penrith AFC

    New boss revealed for Penrith AFC

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    Penrith Panthers celebrate winning season

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    Darren Edmondson leaves Penrith AFC

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Home Latest

Eden house prices suffer almost eight per cent crash

by CWH
20 February 2022
in Latest, Property
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Picture: PA

House prices crashed by 7.6 per cent in Eden in December, new figures show.

But the large drop does not reverse the longer-term trend, which has seen property prices in the area achieve 7.8 per cent annual growth.

The average Eden house price in December was £228,642, Land Registry figures show – a 7.6 per cent decrease on November.

Over the month, the picture was worse than that across the North West, where prices increased 0.6 per cent, and Eden underperformed compared to the 0.8 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Eden rose by £17,000 – putting the area 28th among the North West’s 39 local authorities with price data for annual growth.

The best annual growth in the region was in Knowsley, where property prices increased on average by 17.1 per cent, to £166,000. At the other end of the scale, properties in Allerdale lost 2.1 per cent of their value, giving an average price of £162,000.

Winners and losers

Owners of flats fared worst in Eden in December – they dropped 8.4 per cent in price, to £124,181 on average. But over the last year, prices rose by three per cent.

Among other types of property:

  • Detached: down 7.1% monthly; up 10.5% annually; £333,583 average
  • Semi-detached: down 7.8% monthly; up 8.2% annually; £216,091 average
  • Terraced: down 7.9% monthly; up 5.3% annually; £176,287 average

First steps on the property ladder

First-time buyers in Eden spent an average of £187,000 on their property – £13,000 more than a year ago, and £38,000 more than in December 2016.

By comparison, former owner-occupiers paid £260,000 on average in December – 39.2 per cent more than first-time buyers.

How do property prices in Eden compare?

Buyers paid 14.2 per cent more than the average price in the North West (£200,000) in December for a property in Eden. Across the North West, property prices are higher than those across the UK, where the average cost £275,000.

The most expensive properties in the North West were in Trafford – £342,000 on average, and 1.5 times as much as more than in Eden. Trafford properties cost 3.1 times as much as homes in Burnley (£111,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

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