Area Guide For Penrith

Penrith is a market town and unparished area in the county of Cumbria, England. It is in the Eden Valley, just north of the River Eamont, and lies less than 3 miles (5 km) outside the boundaries of the Lake District National Park. Other local rivers bounding the town are the River Lowther and the River Petteril. A partially man-made watercourse, known as Thacka Beck, flowing through the centre of the town, connects the Rivers Petteril and Eamont. For many centuries, the Beck provided the town with its main water supply. Historically a part of Cumberland, the local authority is Eden District Council, which is based in the town. Penrith was formerly the seat of both Penrith Urban and Rural District Councils. Penrith has no town council of its own, and is an unparished area. It is generally accepted that the name Penrith is of Cumbric origin, though the exact etymology of the name has been debated. Several toponymists, favour a derivation from the local equivalents to the Welsh pen 'head, chief' rhyd 'ford'. On this basis the name would therefore mean 'chief ford' or 'hill ford'. Objections to this theory have been raised on the grounds that the present


Penrith Map

Estimated Price: £241,035
Average Asking Price: £276,754
Price change in last one year: £17,590
Average Price Paid: £200,504
Average Rent Rates: £595


Property Prices Breakdown in Penrith

Average Price for property in Penrith is around £241,035 which varies based on type of property you are interested in and ranges from £338,142 for detached house to around £203,477 for semi-detached. Similarly terraced house is around £169,832 and a flat is worth £134,094. Values have been changing and have risen £1,939 in last 3 months alone. Similar historical trend can be observed in price changes e.g. prices changed £6,048 in last 6 months, £17,590 in last 1 year, £17,094 in last 2 years, £20,442 in last 3 years, £11,247 in last 4 years and £15,601 in last 5 years.

Currently average asking price of a property in Penrith is around £276,754 based on approximately 413 properties for sale. Same is the case with rental options based on 46 properties up for rent, average asking rent is around £595 per month.

Estimated property value in Penrith is £241,035. Average asking price is £276,754 while average price paid is £208,318 which is up by £17,590 and Avg. asking rent £595.Based on an Online Survey

Buyers are willing to pay high dollar prices to grab these properties because of the recent trend in real estate investment especially in Penrith area. In last 1 year alone average price buyer paid is around £208,318 based on approximately 413 sales in Penrith area alone. If you compare it to last 3 years sales of 1,246 properties where buyers paid around £196,542. It has been same for some time now for e.g. if you take an average of amount paid in last 5 years, it comes to around £200,504 for 2,046 and average amount paid for purchase of approx. 2,821 properties sold in last 7 years comes to about £203,519 per sale.


Properties For Sale in Penrith


Breakdown of asking prices for homes of different sizes show that price varies clearly based on no of bedrooms and type of house. Asking price for a house with 1 bedroom is around £83,280, £147,977 for a 2 bedroom house, £229,883 for a 3 bedroom house, £358,168 for a 4 bedroom house and £404,403 for a 5 bedroom house. For a flat similarly the prices varies from £101,525 for a single bedroom to £129,103 for a 2 bedroom Flat. Same is the case with 5 bedroom flat £450,000. To sum up the asking prices for properties in Penrith it comes to around average £96,724 for 1 bedroom property, £142,445 for 2 bedroom, £229,883 for 3 bedroom, £358,168 for 4 bedroom and £405,603 for a 5 bedroom property.

Rent per calendar month varies similarly based on type and size of the house. If you look at the rents per month for houses alone it can vary from £434 for 1 bedroom to £508 for 2 bedroom, £698 for 3 bedroom and £825 for 4 bedroom. But if you are interested in renting a 1 bedroom flat then rent per month can be around £435. As the no. of bedroom increase so will the rent e.g. for a 2 bedroom flat it will be around £714. You should be generally be expecting around average £435 rent per month for single bedroom property, £561 for 2 bedroom, £698 for 3 bedroom and approximately £825 for 4 bedroom property in Penrith area.

Popular Houses in Penrith

Disclaimer : Location real estate estimates and values are based on House price index background data and Sales data provided by United Kingdom Land registry Records available as public records from their website. This information is updated monthly on our website and may not reflect all public transactions. This information is based on estimated calculation generated from our developed algorithms. We are striving to make this information as accurate and useful as possible. This data covers the transactions received at Land Registry in the period 1/1/1995 to 9/1/2014. © Crown copyright 2014. Data produced by Land Registry © Crown copyright 2014.

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