Liverpool house prices increased slightly in February

General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices increased slightly, by 0.4%, in Liverpool in February, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 9.4% annual growth.

The average Liverpool house price in February was £181,278, Land Registry figures show – a 0.4% increase on January.

Over the month, the picture was better than that across the North West, where prices decreased 0.6%, and Liverpool outperformed the 1% drop for the UK as a whole.

Over the last year, the average sale price of property in Liverpool rose by £16,000 – putting the area 18th among the North West’s 35 local authorities with price data for annual growth.

The best annual growth in the region was in Fylde, where property prices increased on average by 14.2%, to £247,000. At the other end of the scale, properties in Westmorland and Furness gained just 2.4% in value, giving an average price of £224,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Liverpool in February – they increased 0.9%, to £364,317 on average. Over the last year, prices rose by 10%.

Among other types of property:

Semi-detached:

Terraced:

Flats:

First steps on the property ladder

First-time buyers in Liverpool spent an average of £160,000 on their property – £14,000 more than a year ago, and £45,000 more than in February 2018.

By comparison, former owner-occupiers paid £201,000 on average in February – 25.4% more than first-time buyers.

How do property prices in Liverpool compare?

Buyers paid 15.3% less than the average price in the North West (£214,000) in February for a property in Liverpool. Across the North West, property prices are lower than those across the UK, where the average cost £288,000.

The most expensive properties in the North West were in Trafford – £363,000 on average, and twice as much as more than in Liverpool. Trafford properties cost 3.1 times as much as homes in Burnley (£116,000 average), at the other end of the scale.

The highest property prices across the UK were in 160.

Factfile

Average property price in February

Liverpool: £181,278
The North West:£214,146
UK: £287,506

Annual growth to February

Liverpool: +9.4%
The North West: +7%
UK: +5.5%

Best and worst annual growth in the North West

Fylde: +14.2%
Westmorland and Furness: +2.4%