NEW figures have revealed the most expensive areas in South Lakeland to buy a house.

Analysis of new figures reveals that Ambleside and Grasmere was the most expensive area of South Lakeland to buy a house in last year.

Data from the Office for National Statistics shows that of the 18 council wards in South Lakeland, Ambleside and Grasmere saw the highest median house price in 2021, of £475,000.

This was followed by Bowness and Levens (£372,175) and Broughton and Coniston (£342,500).

By contrast, the cheapest parts of South Lakeland to purchase property were Ulverston East, which had a median house price of £184,000, Kendal North (£206,000) and Kendal Town (£208,250).

The median – the middle number in a series – is used to ensure the figures are not skewed by extreme highs or lows.

Meanwhile, the number of homes sold in South Lakeland rose from 1,667 in 2020 to 2,046 last year.

Of sales last year, nine per cent (174) were in Kendal Town – making it the busiest area for buyers.

At the other end of the scale, Ambleside and Grasmere saw just 77 properties sold in 2021, earning it the title of quietest area of South Lakeland's property market, along with its most expensive.

The Centre for Economics and Business Research said that following a period of significant growth during the pandemic, it expects house prices to experience downward pressure over the next year, as a result of sharp rises in mortgage rates.

Karl Thompson, an economist at the think tank, said the strongest price contractions are expected outside of London and the South East, causing greater regional price disparities.

The number of residential property sales in England increased by 21 per cent to 821,407 between the end of 2020 and the end of last year.

The ONS figures also reveal the trendiest areas – the ones which saw the fastest growth in sales – in South Lakeland.

Of the seven wards with at least 100 properties sold, Kendal Town saw 55 per cent more properties sold in 2021 than in 2020, followed by Arnside & Milnthorpe (19 per cent) and Ulverston East (16 per cent).