Property trends for Preston (PR)

The average property price in PR is £239,494, placing it below the national average. Over the past decade, prices have grown at 2.8% per year on an annualised basis, which is close to the national median pace of growth.

Average monthly rent stands at £796, below the national average. Rents have grown at 3.4% annually over the past decade, slightly below the national pace. The current flat yield is 6.2%, reflecting a market where rental returns remain competitive.

Average net household income is £34,833, below the national average. The price-to-income ratio of 6.9x has increased since 2016, when it stood at 6.2x, indicating that property has become less affordable relative to earnings. Rental affordability has improved slightly; the rent-to-income ratio has fallen from 23.01% in 2016 to 22.92% today.

The age profile is broadly balanced with a slightly higher proportion of residents aged 50 and over. Outright home ownership is above average at 35.5%, and mortgage ownership is also elevated at 29.7%, reflecting a fairly stable and settled population. The employment mix is marked by an above-average share of caring occupations at 10.2% and a below-average proportion of managers and professionals.