NEW DATA shows that house prices in Carlisle rose slightly more than the North-West average in September.
The figures that were released as part of the Government's UK House Price Index show that house prices in the city rose by 2.3 per cent in September.
Over the same month, house prices in the North-West rose by 0.6 per cent. Furthermore, the same data set put Carlisle above the national average, as in September national house prices were unchanged.
This rise in house prices in September contributes to a longer-term trend, which has seen property prices in Carlisle grow by 11.4 per cent in the last 12 months.
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This percentage rise in house prices translates to a £17,000 rise in prices in the city over the last year, with the average cost of a house in Carlisle now sitting at £169,299 according to Land Registry figures.
However, on average a house in Carlisle still costs less than the North-West average despite the rise in September, with this figure sitting at £219,005.
Broken down into property types in Carlisle, detached, semi-detached and terraced houses all rose by 2.4 per cent in September, whilst flats in the city rose by 1.6 per cent.
First-time buyers also spent on average £143,000 on their property, £14,000 more than a year ago and £28,000 more than in September 2017.
These figures do not fully account for the economic turmoil that was created by the minibudget which was announced by the Truss administration at the end of September.
Nicky Stevenson, managing director at estate agent group Fine and Country, which has a branch on Warwick Road, Carlisle reflected on the recent economic instability and on the potential impact of the autumn statement that was announced on Thursday, November 17.
He said: "Annual house price growth slowed in September against a backdrop of rising interest rates and shrinking disposable incomes.
"All eyes will now turn to Chancellor Jeremy Hunt’s autumn statement, which is expected to include both tax rises and spending cuts." he added.
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