Merseyside house prices increased in June
House prices increased by 2.1% in Merseyside in June, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 16.9% annual growth.
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Hide AdThe average Merseyside house price in June was £172,275.9988, Land Registry figures show – a 2.1% increase on May.
Over the month, the picture was less good than that across the North West, where prices increased 6.7661376%, and Merseyside underperformed compared to the 4.4989563% rise for the UK as a whole.
Over the last year, the average sale price of property in Merseyside rose by £25,000 – putting the area 16th among the North West’s 43 local authorities for annual growth.
The best annual growth in the region was in Pendle, where property prices increased on average by 22.8%, to £124,000. At the other end of the scale, properties in Preston gained 7.3% in value, giving an average price of £136,000.
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Hide AdWinners and Losers
Owners of terraced houses saw the biggest improvement in property prices in Merseyside in June – they increased 2.5%, to £136,872.1372 on average. Over the last year, prices rose by 18%.
Among other types of property:
Detached: up 1.9% monthly; up 17.2% annually; £301,246.5438 averageSemi-detached: up 1.9% monthly; up 16.1% annually; £191,650.8548 averageFlats: up 1.9% monthly; up 16.4% annually; £117,650.7249 average
First steps on the property ladder
First-time buyers in Merseyside spent an average of £148,000 on their property – £21,000 more than a year ago, and £34,000 more than in June 2016.
By comparison, former owner-occupiers paid £194,000 on average in June – 31.5% more than first-time buyers.
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Hide AdHow do property prices in Merseyside compare?
Buyers paid 14% less than the average price in the North West (£200,000) in June for a property in Merseyside. Across the North West, property prices are low compared to those across the UK, where the average cost £266,000.
The most expensive properties in the North West were in Trafford – £322,000 on average, and 1.9 times as much as in Merseyside. Trafford properties cost 3.3 times as much as homes in Burnley (£99,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).
Factfile
Average property price in June
Merseyside: £172,275.9988The North West:£200,221.9349UK: £265,668.1787
Annual growth to June
Merseyside: +16.9%The North West: +18.6%UK: +13.2%
Best and worst annual growth in the North West
Pendle: +22.8%Preston: +7.3%