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Plummet In Value

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Sell My House Quickly found another interesting article about properties in Liverpool. Merseyside area where houses lost a quarter of their value. The area saw certain types of properties plummet in value in the space of a year.

Plummet In Value

One Merseyside area has seen house prices plummet over 12 months.

Duke’s ward in Southport was one area in Merseyside where houses prices toppled and bucked the trend of rising property prices. According to the Office of National Statistics the ward’s terraced houses were most affected as they fell by more than a quarter.

The ward covers a wide area of the seaside town, stretching across the coast and covering the promenade. The number of properties sold according to ONS figures stood at 265 for the year ending June 2021.

ONS released statistics for the median price paid by ward for areas across the country.

Whilst the majority of areas in Sefton remained the same, Duke’s ward saw the most dramatic change. For all properties in the ward, median house prices actually rose by just over £20,000.

But terraced houses in the ward dropped by a drastic £56,000, yet detached houses in the ward actually increased by a staggering £156,500 in the same year. House prices are generally on the rise across Sefton.

The number of terraced houses sold remained at a similar level to the previous year, with the year ending June 2020 seeing 20 properties sold and June 2021 seeing 21 properties sold. Although the number isn’t the largest, it still shows that this is an anomaly in comparison to other properties in Sefton.

In fact, the only ward in Sefton where houses prices fell was Litherland. The South Sefton ward’s median property price fell from £138,500 to £115,500 in 12 months, completely bucking the trend in the borough.

We found this articles about The area saw certain types of properties plummet in value in the space of a year on Liverpool Echo. Kindly click the link to read the full story.

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