The grand entrance to a Victorian house in Toxteth. Image: Shutterstock
House prices across the majority of Britain have hit record highs since the start of last year and Toxteth sits atop the list for the highest increases.
Liverpool’s house price hotspot has seen a huge 20% increase in the average price for a home over the past year.
The facts and figures
The average price for a home in L8 is now £151,958.
That price tag still ranks Toxteth in the top 10% of the cheapest areas across the UK, but the mean cost for a home has risen from just £126,806 in September last year.
Across Britain, the average valuation stands at a record £338,462, up by 5.8% compared with September 2020.
Accrington in Lancashire, Retford in Nottinghamshire and Heywood in Greater Manchester closely follow Toxteth with a 19% increase in average asking prices, according to Rightmove.
Why are prices on the rise?
The number of homes for sale is at a record low, and buyer demand is high. This competition for properties pushes the prices up.
In Toxteth, a number of improvements to the area has seen it rise in popularity. Property there now appeals to a wider range of buyers, from first-time purchasers to investors.
The recently released documentary Almost Liverpool 8 highlights this change in the area as it continues to move away from the outdated stereo types of the past.
From Turner Prize winning projects to a new generation of poets and artists, the film heads into the heart of the community to meet photographers, beekeepers, urban griots and claims to show just why L8 is now a model example of a modern community.