Liverpool house prices dropped slightly in June
House prices dropped slightly, by 0.1%, in Liverpool in June, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 9.5% over the last year.
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Hide AdThe average Liverpool house price in June was £177,602, Land Registry figures show – a 0.1% decrease on May.
Over the month, the picture was different to that across the North West, where prices increased 2.1%, and Liverpool was lower than the 1% rise for the UK as a whole.
Over the last year, the average sale price of property in Liverpool rose by £15,000 – putting the area 24th among the North West’s 39 local authorities with price data for annual growth.
The highest annual growth in the region was in St Helens, where property prices increased on average by 19.5%, to £184,000. At the other end of the scale, properties in Allerdale gained 1.1% in value, giving an average price of £175,000.
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Hide AdAn imbalance between supply and demand for properties has remained the primary reason behind climbing house prices across the UK throughout the pandemic.
But activity is starting to slow, with soaring inflation putting household budgets under pressure.
First steps on the property ladder
First-time buyers in Liverpool spent an average of £157,000 on their property – £13,000 more than a year ago, and £47,000 more than in June 2017.
By comparison, former owner-occupiers paid £196,000 on average in June – 25% more than first-time buyers.
Property types
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Hide AdOwners of detached houses saw the biggest fall in property prices Liverpool in June – they dropped 0.7% in price, to £352,833 on average. But over the last year, prices rose by 11.4%.
Among other types of property:
Semi-detached: down 0.2% monthly; up 11.4% annually; £219,243 averageTerraced: up 0.2% monthly; up 9.5% annually; £155,847 averageFlats: down 0.3% monthly; up 6.8% annually; £133,413 average
How do property prices in Liverpool compare?
Buyers paid 16.4% less than the average price in the North West (£212,000) in June for a property in Liverpool. Across the North West, property prices are lower than those across the UK, where the average cost £286,000.
The most expensive properties in the North West were in Trafford – £362,000 on average, and twice as much as more than in Liverpool. 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 June
Liverpool: £177,602The North West:£212,347UK: £286,397
Annual growth to June
Liverpool: +9.5%The North West: +6.2%UK: +7.8%
Highest and lowest annual growth in the North West
St Helens: +19.5%Allerdale: +1.1%