HOUSE prices increased by 1.4% – more than the average for the North West – 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 3.2% over the last year.

The average Wirral house price in May was £213,556. Land Registry figures show a 1.4% increase on April.

Over the month, the picture was different to that across the North West, where prices increased 0.9%, and Wirral was above the 1.2% rise for the UK as a whole.

Over the last year, the average sale price of property in Wirral rose by £6,700 – putting the area 17th among the North West’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in Cheshire East, where property prices increased on average by 10.9%, to £301,000. At the other end of the scale, properties in Burnley lost 4.2% of their value, giving an average price of £106,000.

First steps on the property ladder

First-time buyers in Wirral spent an average of £179,800 on their property – £5,500 more than a year ago, and £47,100 more than in May 2019.

By comparison, former owner-occupiers paid £245,500 on average in May – 36.5% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in Wirral in May – they increased 1.5%, to £361,017 on average. Over the last year, prices rose by 3.1%.

Among other types of property:

Semi-detached: up 1.5% monthly; up 3.8% annually; £240,919 average

Terraced: up 1.1% monthly; up 3.4% annually; £163,653 average

Flats: up 1.3% monthly; up 1.7% annually; £125,768 average

How do property prices in Wirral compare?

Buyers paid 1.8% less than the average price in the North West (£218,000) 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 £285,000.

The most expensive properties in the North West were in Trafford – £373,000 on average, and 1.7 times the price as in Wirral. Trafford properties cost 3.5 times the price as homes in Burnley (£106,000 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: £213,556

The North West: £217,525

UK: £285,201

Annual growth to May

Wirral: +3.2%

The North West: +2.9%

UK: +2.2%

Highest and lowest annual growth in the North West

Cheshire East: +10.9%

Burnley: -4.2%