Sefton house prices increased slightly in March

House prices increased slightly, by 0.2%, in Sefton in March, new figures show.
File photo dated 14/10/14 of a sold and for sale signs. A gradual slowdown in the housing market in Scotland is likely as the cost-of-living crisis bites, a report has warned. House prices in Scotland continue to edge upwards but indicators are softening slightly, according to the Royal Institution of Chartered Surveyors (Rics) latest survey. Issue date: Thursday May 12, 2022.File photo dated 14/10/14 of a sold and for sale signs. A gradual slowdown in the housing market in Scotland is likely as the cost-of-living crisis bites, a report has warned. House prices in Scotland continue to edge upwards but indicators are softening slightly, according to the Royal Institution of Chartered Surveyors (Rics) latest survey. Issue date: Thursday May 12, 2022.
File photo dated 14/10/14 of a sold and for sale signs. A gradual slowdown in the housing market in Scotland is likely as the cost-of-living crisis bites, a report has warned. House prices in Scotland continue to edge upwards but indicators are softening slightly, according to the Royal Institution of Chartered Surveyors (Rics) latest survey. Issue date: Thursday May 12, 2022.

House prices increased slightly, by 0.2%, in Sefton in March, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 9.9% annual growth.

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The average Sefton house price in March was £202,984, Land Registry figures show – a 0.2% increase on February.

Over the month, the picture was similar to that across the North West, where prices increased 0.4%, and Sefton underperformed compared to the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in Sefton rose by £18,000 – putting the area 22nd 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 22.6%, to £129,000. At the other end of the scale, properties in Barrow gained just 3.4% in value, giving an average price of £138,000.

Winners and Losers

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Owners of detached houses saw the biggest improvement in property prices in Sefton in March – they increased 0.5%, to £366,683 on average. Over the last year, prices rose by 13.6%.

Among other types of property:

Semi-detached: up 0.3% monthly; up 10.3% annually; £218,149 averageTerraced: up 0% monthly; up 8.9% annually; £153,325 averageFlats: down 0.3% monthly; up 5.2% annually; £118,052 average

First steps on the property ladder

First-time buyers in Sefton spent an average of £164,000 on their property – £14,000 more than a year ago, and £41,000 more than in March 2017.

By comparison, former owner-occupiers paid £230,000 on average in March – 40.3% more than first-time buyers.

How do property prices in Sefton compare?

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Buyers paid 1% less than the average price in the North West (£205,000) in March for a property in Sefton. Across the North West, property prices are roughly the same as those across the UK, where the average cost £278,000.

The most expensive properties in the North West were in Trafford – £351,000 on average, and 1.7 times as much as more than in Sefton. Trafford properties cost 3.2 times as much as homes in Burnley (£111,000 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 March

Sefton: £202,984The North West:£205,121UK: £278,436

Annual growth to March

Sefton: +9.9%The North West: +9.7%UK: +9.8%

Best and worst annual growth in the North West

Hyndburn: +22.6%Barrow: +3.4%