Wirral house prices held steady in November
House prices remained steady in Wirral in November, new figures show.
The lack of movement maintains the longer-term trend, which has seen property prices in the area grow by 12.8% over the last year.
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Hide AdThe average Wirral house price in November was £213,556, Land Registry figures show – largely unchanged from October.
Over the month, the picture was different to that across the North West, where prices increased 0.4%, and Wirral was above the 0.3% drop for the UK as a whole.
Over the last year, the average sale price of property in Wirral rose by £24,000 – putting the area 21st 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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Hide AdThe 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.”
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Hide AdFirst steps on the property ladder
First-time buyers in Wirral spent an average of £180,000 on their property – £21,000 more than a year ago, and £47,000 more than in November 2017.
By comparison, former owner-occupiers paid £246,000 on average in November – 36.6% more than first-time buyers.
Property types
Owners of flats saw the biggest fall in property prices Wirral in November – they dropped 0.2% in price, to £124,554 on average. But over the last year, prices rose by 10.1%.
Among other types of property:
Detached: down 0.1% monthly; up 12% annually; £366,048 averageSemi-detached: up 0% monthly; up 13.2% annually; £239,552 averageTerraced: up 0.1% monthly; up 13.8% annually; £163,761 average
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Hide AdHow do property prices in Wirral compare?
Buyers paid 3.5% less than the average price in the North West (£221,000) in November for a property in Wirral. 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 Wirral. 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
Wirral: £213,556The North West:£221,224UK: £294,910
Annual growth to November
Wirral: +12.8%The North West: +13.5%UK: +10.3%
Highest and lowest annual growth in the North West
Allerdale: +15.6%West Lancashire: +9.1%