Wirral house prices increased in May
House prices increased by 1.1% in Wirral in May, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 3.1% over the last year.
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Hide AdThe average Wirral house price in May was £204,130, Land Registry figures show – a 1.1% increase on April.
Over the month, the picture was different to that across the North West, where prices decreased 0.2%, and Wirral was above the UK as a whole, where prices did not change.
Over the last year, the average sale price of property in Wirral rose by £6,100 – putting the area 24th among the North West’s 35 local authorities with price data for annual growth.
The highest annual growth in the region was in West Lancashire, where property prices increased on average by 12%, to £239,000. At the other end of the scale, properties in Hyndburn lost 1.3% of their value, giving an average price of £118,000.
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First-time buyers in Wirral spent an average of £171,200 on their property – £4,700 more than a year ago, and £39,900 more than in May 2018.
By comparison, former owner-occupiers paid £235,600 on average in May – 37.6% more than first-time buyers.
Property types
Owners of flats saw the biggest rise in property prices in Wirral in May – they increased 1.6%, to £120,097 on average. Over the last year, prices rose by 2.9%.
Among other types of property:
- Detached: up 1.1% monthly; up 3.6% annually; £353,570 average
- Semi-detached: up 1% monthly; up 3.3% annually; £229,042 average
- Terraced: up 1.1% monthly; up 2.4% annually; £154,552 average
How do property prices in Wirral compare?
Buyers paid 3.6% less than the average price in the North West (£212,000) in May for a property in Wirral. Across the North West, property prices are low compared to those across the UK, where the average cost is £286,000.
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Hide AdThe most expensive properties in the North West were in Trafford – £360,000 on average, and 1.8 times the price as in Wirral. Trafford properties cost 3.2 times the price 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 May
- Wirral: £204,130
- The North West:£211,790
- UK: £285,861
Annual growth to May
- Wirral: +3.1%
- The North West: +2.7%
- UK: +1.9%
Highest and lowest annual growth in the North West
- West Lancashire: +12%
- Hyndburn: -1.3%