Sell My House Quickly in Liverpool
Sell My House Quickly found another interesting article about properties in Liverpool. UK house price growth led by rises in Manchester, Liverpool and Leeds.
With buyer demand hitting record highs, UK house price growth is remaining strong. And the north of England is seeing some of the biggest growth.
Buyer demand is 27.5% higher in the year to do date than in 2020, according to Zoopla’s latest House Price Index. Supply is still low with the number of new homes coming to the market down 6.1% compared to 2020. The supply-demand in-balance is expected to remain in the coming months.
In March, UK house prices increased by 4% annually. For the past five months, house prices have been growing by this rate or more. March’s house price growth is the slowest rate of growth since October 2020. This shows house prices are levelling off after increasing steadily for many months.
“More flexible working arrangements open up new opportunities for homeowners to move to a further-flung location. At the same time, the roll-out of the 95% mortgage guarantee will mean more demand from first-time buyers, fuelling demand without replenishing supply.”
More affordable regions and cities lead the way
House prices are continuing to outperform in areas where homes are more affordable. Wales is leading annual house price growth in the UK with a 5.3% increase annually. Yorkshire and the Humber and the north-west follows with 5.3% and 5.2% house price rises. The lowest house price growth is currently in London with only 3.1% growth annually.
In Zoopla’s latest Cities House Price Index, cities in the north are continuing to see the strongest house price rises. With more affordable property prices, these areas are seeing especially strong demand as homebuyers and property investors can get more for their money there.
Out of the 20 cities on Zoopla’s index, Manchester, Liverpool and Leeds are seeing the strongest house price growth for the third straight month. These cities also have average property prices well below the UK average price of £223,700.
Liverpool: Another city in the north-west, Liverpool follows closely behind with a 6.3% rise in house prices. The city saw the strongest growth in the January 2021 and December 2020 house price indexes. Liverpool is also home to one of the lowest average property prices with £130,600.
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