HOUSE prices leaped by 5.5% in Wirral in September, new figures show.
The significant rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.6% over the last year.
The average Wirral house price in September was £217,980, Land Registry figures show – a 5.5% increase on August.
Over the month, the picture was different to that across the North West, where prices increased 0.5%, and Wirral was above the 0.5% drop for the UK as a whole.
Over the last year, the average sale price of property in Wirral rose by £5,500 – putting the area 12th among the North West’s 35 local authorities with price data for annual growth.
The highest annual growth in the region was in Ribble Valley, where property prices increased on average by 7.3%, to £284,000. At the other end of the scale, properties in Burnley lost 10.9% of their value, giving an average price of £105,000.
First steps on the property ladder
First-time buyers in Wirral spent an average of £182,900 on their property – £4,100 more than a year ago, and £44,800 more than in September 2018.
By comparison, former owner-occupiers paid £251,500 on average in September – 37.5% more than first-time buyers.
Owners of detached houses saw the biggest rise in property prices in Wirral in September – they increased 5.7%, to £377,054 on average. Over the last year, prices rose by 3.9%.
Among other types of property:
- Semi-detached: up 5.6% monthly; up 2.8% annually; £244,900 average
- Terraced: up 5.5% monthly; up 1.7% annually; £166,130 average
- Flats: up 5.1% monthly; up 1.9% annually; £126,662 average
How do property prices in Wirral compare?
Buyers paid roughly the same as the average price in the North West (£218,000) in September for a property in Wirral. Across the North West, property prices are low compared to those across the UK, where the average cost is £291,000.
The most expensive properties in the North West were in Trafford – £366,000 on average, and 1.7 times the price as in Wirral. Trafford properties cost 3.5 times the price as homes in Burnley (£105,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea.
Average property price in September
- Wirral: £217,980
- The North West: £218,013
- UK: £291,385
Annual change to September
- Wirral: +2.6%
- The North West: +0.6%
- UK: -0.1%
Highest and lowest annual growth in the North West
- Ribble Valley: +7.3%
- Burnley: -10.9%