Liverpool house prices increased in August

General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices increased by 1.6% in Liverpool in August, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.2% over the last year.

The average Liverpool house price in August was £180,268, Land Registry figures show – a 1.6% increase on July.

Over the month, the picture was different to that across the North West, where prices remained static, and Liverpool was above the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in Liverpool rose by £3,900 – putting the area 13th among the North West’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in Ribble Valley, where property prices increased on average by 6.8%, to £284,000. At the other end of the scale, properties in Burnley lost 5.6% of their value, giving an average price of £111,000.

First steps on the property ladder

First-time buyers in Liverpool spent an average of £158,900 on their property – £3,200 more than a year ago, and £42,000 more than in August 2018.

By comparison, former owner-occupiers paid £200,000 on average in August – 25.8% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in Liverpool in August – they increased 1.8%, to £362,797 on average. Over the last year, prices rose by 4.1%.

Among other types of property:

Semi-detached:

Terraced:

Flats:

How do property prices in Liverpool compare?

Buyers paid 16.5% less than the average price in the North West (£216,000) in August for a property in Liverpool. Across the North West, property prices are low compared to those across the UK, where the average cost is £291,000.

The most expensive properties in the North West were in Trafford – £372,000 on average, and 2.1 times the price as in Liverpool. Trafford properties cost 3.4 times the price as homes in Burnley (£111,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea (£1.4 million).

Factfile

Average property price in August

Liverpool: £180,268
The North West:£215,791
UK: £291,044

Annual growth to August

Liverpool: +2.2%
The North West: +0.4%
UK: +0.2%

Highest and lowest annual growth in the North West

Ribble Valley: +6.8%
Burnley: -5.6%