Liverpool house prices increased in December

House prices increased by 1.2% in Liverpool in December, new figures show.

But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 2.9% annual decline.

The average Liverpool house price in December was £174,603, Land Registry figures show – a 1.2% increase on November.

Over the month, the picture was different to that across the North West, where prices increased 2.5%, but Liverpool was above the 0.1% rise for the UK as a whole.

Over the last year, the average sale price of property in Liverpool fell by £5,200 – putting the area 27th among the North West’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in West Lancashire, where property prices increased on average by 9.8%, to £253,000. At the other end of the scale, properties in Hyndburn lost 7.8% of their value, giving an average price of £120,000.

First steps on the property ladder

First-time buyers in Liverpool spent an average of £154,000 on their property – £4,900 less than a year ago, but £35,000 more than in December 2018.

By comparison, former owner-occupiers paid £193,500 on average in December – 25.6% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Liverpool in December – they increased 2.3%, to £133,170 on average. Over the last year, prices dropped by 0.3%.

Among other types of property:

• Detached: up 1.2% monthly; down 1.6% annually; £350,658 average
• Semi-detached: up 1.3% monthly; down 2.5% annually; £216,372 average
• Terraced: up 0.7% monthly; down 4.4% annually; £151,503 average

How do property prices in Liverpool compare?

Buyers paid 20% less than the average price in the North West (£218,000) in December for a property in Liverpool. Across the North West, property prices are low compared to those across the UK, where the average cost is £285,000.

The most expensive properties in the North West were in Trafford – £366,000 on average, and 2.1 times the price as in Liverpool. Trafford properties cost 3.4 times the price as homes in Burnley (£107,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in December

• Liverpool: £174,603
• The North West:£218,353
• UK: £284,691

Annual change to December

• Liverpool: -2.9%
• The North West: +1.2%
• UK: -1.4%

Highest and lowest annual growth in the North West

• West Lancashire: +9.8%
• Hyndburn: -7.8%