Preston rarely makes the headlines that Manchester and Liverpool do, but the latest official figures show why more investors are taking a closer look. House prices in the city are rising faster than in the North West and the UK as a whole, rents are climbing, and buying in still costs much less than the national average. Here is what the numbers say.
Preston house prices: up 7.3% in a year
According to the Office for National Statistics (ONS), the average house price in Preston was £189,000 in July 2026 (provisional), up 7.3% from £176,000 a year earlier.
- North West: £221,000, up 4.4% over the same period.
- UK: £273,000, up from £269,000.
So Preston is growing faster than the region while the average home still costs around £84,000 less than the UK average. For investors, that combination of a lower entry price and steady growth is the main attraction.
Prices by property type (July 2026)
| Property type | Average price |
|---|---|
| Detached | £335,000 |
| Semi-detached | £204,000 |
| Terraced | £145,000 (up 8.1%) |
| Flats and maisonettes | £100,000 (up 3.8%) |
| First-time buyers (average) | £165,000 (up 7.5%) |
Preston rents: up 5.9%, ahead of the UK
The ONS puts the average private rent in Preston at £790 a month in August 2026, up 5.9% from £746 a year earlier. Across the UK, rents rose 3.8% over the same period, to an average of £1,400.
| Bedrooms | Average monthly rent (Aug 2026) |
|---|---|
| One | £579 |
| Two | £731 |
| Three | £859 (up 6.3%) |
| Four or more | £1,250 (up 5.2%) |
These are averages across all private rentals in the city, old and new. Modern, well-located apartments often let differently from the wider market, so always look at the specific building and street.
What is driving demand in Preston?
- A university city: Preston is home to the University of Lancashire (formerly UCLan), which describes a community of more than 42,000 students and staff. Students and graduates who stay on add steady rental demand close to the city centre.
- Fast links to London and the North: Preston sits on the West Coast Main Line, with the fastest Avanti West Coast trains reaching London Euston in about 2 hours 15 minutes, and quick connections to Manchester, Liverpool and Lancashire.
- Regeneration on the ground: new streets, up to 500 homes approved at St John's and the restored Harris are changing the city centre. Read more in Preston in autumn 2026: the projects reshaping the city centre.
What it means for investors
- Lower entry, room to grow: average prices well below the UK level, with growth ahead of the region in the latest figures.
- Rising rents: rents are increasing faster than the UK average, which supports income over time.
- Look beyond the averages: returns depend on the specific property: its location, layout, service charges and the costs of letting. Past growth is no guide to future performance.
For a deeper look at the city, see our Preston city guide.
London House, Preston
London House is a redevelopment of a classic building into 70 apartments in Preston's Stoneygate regeneration district, and Legacy is its Master Agent. 1-bed apartments start from £139,750 and 2-bed from £173,000, with a projected gross yield of 6.9% to 7.5% (Addressed Long Let Forecast). Completion is estimated for Q2 2027.
Gross figure before service charges and costs. Rent will vary by floor, layout, size, and aspect. Speak to your representative for a unit-specific projection. All prices are indicative only and subject to change. Please speak to a Legacy Investment specialist to confirm prices and availability.
Book a consultation, answer five quick questions for a shortlist, or message us on WhatsApp.
Preston property: quick answers
What is the average house price in Preston?
£189,000 in July 2026 (provisional ONS figure), up 7.3% on a year earlier.
How much is rent in Preston?
The average private rent was £790 a month in August 2026: £579 for one bedroom and £731 for two bedrooms (ONS).
Is Preston cheaper than the rest of the UK?
Yes. The average Preston home cost about £84,000 less than the UK average of £273,000 in July 2026.
How far is Preston from London?
The fastest direct trains to London Euston take about 2 hours 15 minutes.
Sources
- ONS: Housing prices in Preston (house prices July 2026, rents August 2026)
- ONS: Private rent and house prices, UK: September 2026
- University of Lancashire
- Avanti West Coast: Preston to London Euston train times
This article is for information only and isn't financial, legal or tax advice. Property investment is not regulated by the Financial Conduct Authority. The value of property and rental income can go down as well as up. Figures are projections, not guarantees.