Liverpool house prices increased more than North West average in September

House prices increased by 4.2% – more than the average for the North West – in Liverpool in September, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 4% over the last year.

The average Liverpool house price in September was £186,730, Land Registry figures show – a 4.2% increase on August.

Over the month, the picture was different to that across the North West, where prices increased 0.5%, and Liverpool was above the 0.5% drop for the UK as a whole.

Over the last year, the average sale price of property in Liverpool rose by £7,200 – putting the area sixth 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 7.3%, to £284,000. At the other end of the scale, properties in Burnley lost 10.9% of their value, giving an average price of £105,000.

First steps on the property ladder

First-time buyers in Liverpool spent an average of £164,700 on their property – £6,100 more than a year ago, and £45,800 more than in September 2018.

By comparison, former owner-occupiers paid £207,000 on average in September – 25.7% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in Liverpool in September – they increased 4.6%, to £376,761 on average. Over the last year, prices rose by 6.2%.

Among other types of property:

How do property prices in Liverpool compare?

Buyers paid 14.3% less than the average price in the North West (£218,000) in September 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 – £366,000 on average, and twice the price as in Liverpool. Trafford properties cost 3.5 times the price as homes in Burnley (£105,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in September

• Liverpool: £186,730
• The North West:£218,013
• UK: £291,385

Annual change to September

• Liverpool: +4%
• The North West: +0.6%
• UK: -0.1%

Highest and lowest annual growth in the North West

• Ribble Valley: +7.3%
• Burnley: -10.9%