Sefton house prices dropped in November

House prices dropped by 1.6% in Sefton in November, new figures show.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices dropped by 1.6% in Sefton in November, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 11.3% over the last year.

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The average Sefton house price in November was £213,518, Land Registry figures show – a 1.6% decrease on October.

Over the month, the picture was different to that across the North West, where prices increased 0.4%, and Sefton was lower than the 0.3% drop for the UK as a whole.

Over the last year, the average sale price of property in Sefton rose by £22,000 – putting the area 30th among the North West’s 39 local authorities with price data for annual growth.

The highest annual growth in the region was in Allerdale, where property prices increased on average by 15.6%, to £194,000. At the other end of the scale, properties in West Lancashire gained 9.1% in value, giving an average price of £225,000.

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The average UK house price edged down to £295,000 in November 2022, from the previous month's record high of £296,000.

Property prices increased by 10.3% in the year to November, slowing from 12.4% in October.

Nathan Emerson, CEO of Propertymark, which represents estate agents, said: "In November, our agents reported a market that was on the cusp of seeing purchasing power handed back to buyers which was a trend we hadn’t seen in months."

And Roger Evans, director of home finance distribution at Gatehouse Bank, said: “The property market is slowly becoming more favourable for buyers in some areas as rates stabilise a little following the turbulence of 2022.”

First steps on the property ladder

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First-time buyers in Sefton spent an average of £173,000 on their property – £18,000 more than a year ago, and £40,000 more than in November 2017.

By comparison, former owner-occupiers paid £242,000 on average in November – 40% more than first-time buyers.

Property types

Owners of flats saw the biggest fall in property prices Sefton in November – they dropped 1.8% in price, to £121,728 on average. But over the last year, prices rose by 7.6%.

Among other types of property:

Detached: down 1.6% monthly; up 11.6% annually; £381,412 averageSemi-detached: down 1.6% monthly; up 11.8% annually; £230,483 averageTerraced: down 1.5% monthly; up 12.6% annually; £163,874 average

How do property prices in Sefton compare?

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Buyers paid 3.5% less than the average price in the North West (£221,000) in November for a property in Sefton. Across the North West, property prices are lower than those across the UK, where the average cost £295,000.

The most expensive properties in the North West were in Trafford – £376,000 on average, and 1.8 times as much as more than in Sefton. Trafford properties cost 3.2 times as much as homes in Burnley (£118,000 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 November

Sefton: £213,518The North West:£221,224UK: £294,910

Annual growth to November

Sefton: +11.3%The North West: +13.5%UK: +10.3%

Highest and lowest annual growth in the North West

Allerdale: +15.6%West Lancashire: +9.1%