Knowsley house prices increased in July
House prices increased by 1.5% in Knowsley in July, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 10.4% annual growth.
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Hide AdThe average Knowsley house price in July was £175,734, Land Registry figures show –a 1.5% increase on June.
Over the month, the picture was less good than that across the North West, where prices increased 2.5%, and Knowsley underperformed compared to the 2% rise for the UK as a whole.
Across the UK, the the average UK house price leapt by 15.5% in the year to July, marking the biggest increase in 19 years.
But the increase in annual inflation was mainly because of “a base effect” from the falls in prices seen this time last year, as a result of changes in the stamp duty holiday, the ONS said.
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Hide AdOver the last year, the average sale price of property in Knowsley rose by £17,000 – putting the area 29th among the North West’s 39 local authorities with price data for annual growth.
The best annual growth in the region was in Hyndburn, where property prices increased on average by 16.4%, to £134,000. At the other end of the scale, properties in Pendle gained just 4.4% in value, giving an average price of £130,000.
Winners and Losers
Owners of semi-detached houses saw the biggest improvement in property prices in Knowsley in July – they increased 1.6%, to £183,188 on average. Over the last year, prices rose by 10.8%.
Among other types of property:
Detached: up 1.2% monthly; up 12.1% annually; £293,321 averageTerraced: up 1.5% monthly; up 9% annually; £133,800 averageFlats: up 1.4% monthly; up 4.2% annually; £87,144 average
First steps on the property ladder
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Hide AdFirst-time buyers in Knowsley spent an average of £153,000 on their property – £14,000 more than a year ago, and £43,000 more than in July 2017.
By comparison, former owner-occupiers paid £193,000 on average in July – 26% more than first-time buyers.
How do property prices in Knowsley compare?
Buyers paid 19% less than the average price in the North West (£217,000) in July for a property in Knowsley. Across the North West, property prices are lower than those across the UK, where the average cost £292,000.
The most expensive properties in the North West were in Trafford – £363,000 on average, and 2.1 times as much as more than in Knowsley. Trafford properties cost three times as much as homes in Burnley (£120,000 average), at the other end of the scale.
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Hide AdThe highest property prices across the UK were in Kensington and Chelsea.
Factfile
Average property price in July
Knowsley: £175,734The North West:£217,077UK: £292,118
Annual growth to July
Knowsley: +10.4%The North West: +18.1%UK: +15.5%
Best and worst annual growth in the North West
Hyndburn: +16.4%Pendle: +4.4%