The Housing market in Liverpool.
If you’re considering the purchase of a home in Liverpool and would like to learn more about the housing market, our guide is here to help.
Liverpool’s property costs fall below the national average, making it an ideal location for first-time buyers to step onto the property ladder or even property landlords to purchase a property.
The average price for property in Liverpool stood at £196,959 in July 2021. This is a rise of 1.47% in the last three months and a rise of 11.40% since a year ago. This is according to the current Zoopla estimates.
In recent years, the housing market in Liverpool has been strengthening even before the current change in conditions. The economy and job market in Liverpool has developed with more people and businesses relocating to this area. This in turn has supported investment and growth in the property market in this region.
The stamp duty holiday has provided a major incentive for buyers. The strong appetite from buyers is expected to slow down as the stamp duty ended on the 30th of June.
Increased confidence and the gradual opening up of the economy on the 19th of July will likely lead more sellers to put their properties on the market. Forecasts activity to remain strong through the middle of 2021.
The Most Expensive Areas to Buy Property in Liverpool
North West of Liverpool city centre, property prices in the Blundellsands, Brighton-le-Sands, Crosby, Little Crosby, and Thornton districts (L23) has seen a 12% increase over the last five years. This suburban area boasts stretches of beach and picturesque parklands, so it comes as no surprise that its property is highly coveted.
The most expensive area on our list, however, is the L37 postcode, which encompasses Formby, Little Altcar and Great Altcar. Each district is an average 30-minute drive from the city centre and offers a wide choice of housing options just off the coast.
Close to this area are Lunt and Sefton Village (L29), which have seen a 13% increase in property prices, emphasising how in-demand the North West of Liverpool has become.
Other expensive areas include upmarket suburbs like Allerton and Mossley Hill (L18), and Ince Blundell and Hightown (L38).
The Cheapest Areas to Buy Property in Liverpool
The L4 postcode bracket, which includes the Anfield, Kirkdale and Walton districts, has the most inexpensive properties in Liverpool. This area sees a lot of interest from buyers due to the range of housing options on offer, from affordable 2-bed flats to modern 4-bed townhouses.
North East of the centre, Stockbridge Village (L28) is the second least expensive area on our list. In recent years, over £25 million has been invested to develop family homes that replaced older tower blocks, creating lots of choices for first-time buyers.
The three remaining most affordable postcodes are L5 (Anfield, Everton, Kirkdale and Vauxhall), L6 (city centre, Everton, Fairfield, Kensington and Tuebrook) and L20 (Bootle and Orrell).
The Future of Liverpool’s Housing Market
There is mass development in Liverpool, with schemes such as the Northern Powerhouse rail line contributing to an investment total upwards of £14 billion.
When similar properties from Liverpool, Manchester and London are compared, Liverpool’s value for money is undeniable, offering buyers a range of affordable property types in attractive metropolitan and rural settings. Additionally, there are plenty of inexpensive regeneration areas in northern Liverpool, including Bootle and Walton, which offer first-time buyers a variety of new-build homes.
With no slowdown to development plans that will likely attract more interest in the city’s properties, it is a great time to consider buying a house in Liverpool.
Please get in touch if you are looking to buy in Liverpool.
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