Property trends for PR1

    PR1 covers the Preston area in Lancashire, situated in the North West of England. It is a diverse urban district with a strong mix of residential, commercial, and student populations, reflecting its position as a regional centre.

    At a Glance

    Average Property Price - PR1

    £182,413

    8

    National percentile

    Average Monthly Rent - PR

    £796

    21

    National percentile

    Average Net Household Income - PR1

    £30,511

    9

    National percentile

    Flat / Maisonette Yield - PR

    6.0%

    77

    National percentile

    10-Year Annualised Price Growth - PR1

    3.4%

    41

    National percentile

    10-Year Annualised Rent Growth - PR

    3.5%

    25

    National percentile

    Property Price & Volume Trends

    The average property price in PR1 is £182,000, placing it among the least expensive districts nationally. Over the past decade, prices have grown at 3.4% annually—broadly in line with the national average. Transaction activity has declined notably, with 619 sales in the latest full year compared to an average of 804 over the previous ten years.

    Rent & Yield Trends

    Average monthly rent in the broader PR postcode area stands at £796, below the national average. Rental growth has been measured at 3.5% annually over ten years, slightly slower than the national pace. The flat yield has improved to 6.0%, up from a ten-year average of 5.2%, signalling strengthening returns for landlords.

    Income & Affordability Trends

    Average household income in PR1 is £30,511, significantly below the national average. The price-to-income ratio has worsened to 5.9x from 5.3x in 2016, reflecting that affordability for purchase has declined relative to local earnings. Rental affordability has improved slightly: the rent-to-income ratio has eased from 23% to 22.8%, though this remains a substantial proportion of household income.

    Resident Demographic Profile

    The area has a notably younger profile, with 20.2% aged 16–24 against a national average of 11.0%, reflecting a significant student population. Conversely, only 10.9% are aged 65 and over, well below the national figure of 19.6%. The housing tenure is dominated by private renting at 37.7%—far above the national average of 21.7%—while ownership is substantially lower. The employment mix is skewed towards elementary occupations (16.2%) and caring roles (11.5%), both well above national norms, whilst managerial positions are notably underrepresented at 6.9%.

    Explore nearby