House prices in parts of Lancashire have been amongst the highest climbers in the North West region over the past 12 months. The average cost of a home in Preston has increased by £12,804 to £188,670 in the past year, (up 7.2%) with homes in Leyland rising by £11,887 in the same period.

But the latest statistics from rightmove.co.uk show that prices have recently slowed down to a monthly increase of 0.5% in Preston, and no change in Leyland. West Lancashire remains the most expensive place in the county to buy a property, with prices increasing by £20,000 last year (up 7.9%) to £273,929.

However, local estate agents have reported a ‘levelling off’ of prices due to the demands of rising interest rates and the credit squeeze. The study shows average prices in England and Wales rose 2.7% in the last month, reversing the previous month’s 2.6% drop. The dash to beat the introduction of Home Information Packs may have been responsible for August’s fall.