Wirral house prices dropped more than North West average in February
House prices dropped by 1.8% – more than the average for the North West – in Wirral in February, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 6% annual growth.
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Hide AdThe average Wirral house price in February was £205,906, Land Registry figures show – a 1.8% decrease on January.
Over the month, the picture was worse than that across the North West, where prices decreased 0.6%, and Wirral underperformed compared to the 1% drop for the UK as a whole.
Over the last year, the average sale price of property in Wirral rose by £12,000 – putting the area 28th 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.
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Hide AdWinners and Losers
Owners of terraced houses fared worst in Wirral in February – they dropped 2.2% in price, to £157,049 on average. But over the last year, prices rose by 6.1%.
Among other types of property:
- Detached: down 1.4% monthly; up 6.4% annually; £355,261 average
- Semi-detached: down 1.8% monthly; up 6.3% annually; £231,086 average
- Flats: down 1.8% monthly; up 3.9% annually; £119,927 average
First steps on the property ladder
First-time buyers in Wirral spent an average of £172,900 on their property – £9,600 more than a year ago, and £42,700 more than in February 2018.
By comparison, former owner-occupiers paid £237,300 on average in February – 37.3% more than first-time buyers.
How do property prices in Wirral compare?
Buyers paid 3.8% less than the average price in the North West (£214,000) in February for a property in Wirral. Across the North West, property prices are lower than those across the UK, where the average cost £288,000.
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Hide AdThe most expensive properties in the North West were in Trafford – £363,000 on average, and 1.8 times as much as more than in Wirral. 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
- Wirral: £205,906
- The North West:£214,146
- UK: £287,506
Annual growth to February
- Wirral: +6%
- The North West: +7%
- UK: +5.5%
Best and worst annual growth in the North West
- Fylde: +14.2%
- Westmorland and Furness: +2.4%