HOUSE prices increased slightly, by 0.5%, in Wirral in February, new figures show.
But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 0.4% annual decline.
The average Wirral house price in February was £206,997, Land Registry figures show – a 0.5% increase on January.
Over the month, the picture was different to that across the North West, where prices decreased 0.2%, and Wirral was above the 0.4% rise for the UK as a whole.
Over the last year, the average sale price of property in Wirral fell by £910 – 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 Rossendale, where property prices increased on average by 11.7%, to £213,000. At the other end of the scale, properties in Burnley lost 9.3% of their value, giving an average price of £103,000.
First steps on the property ladder
First-time buyers in Wirral spent an average of £174,400 on their property – £1,000 less than a year ago, but £38,000 more than in February 2019.
By comparison, former owner-occupiers paid £237,700 on average in February – 36.3% more than first-time buyers.
Property types
Owners of detached houses saw the biggest rise in property prices in Wirral in February – they increased 0.6%, to £351,870 on average. Over the last year, prices rose by 0.4%.
Among other types of property:
Semi-detached: up 0.6% monthly; up 0.2% annually; £233,426 average
Terraced: up 0.5% monthly; down 1.2% annually; £158,517 average
Flats: up 0.3% monthly; down 1.7% annually; £121,462 average
How do property prices in Wirral compare?
Buyers paid 3.2% 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 low compared to those across the UK, where the average cost is £281,000.
The most expensive properties in the North West were in Trafford – £354,000 on average, and 1.7 times the price as in Wirral. Trafford properties cost 3.4 times the price as homes in Burnley (£103,000 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 February
Wirral: £206,997
The North West: £213,890
UK: £280,660
Annual change to February
Wirral: -0.4%
The North West: +1.4%
UK: -0.2%
Highest and lowest annual growth in the North West
Rossendale: +11.7%
Burnley: -9.3%
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