20 Aug

Annual property price growth 4.5% in Merseyside

Posted 20/08/2015 by: Reeds Rains Press Office

Reeds Rains Formby

According to the latest LSL/Acadata House Price Index from local estate agents Reeds Rains, annual house price growth in Merseyside has risen 4.5% which is an increase in the average house price from £147,316 in June 2014 to £153,990 in June 2015. (*)

As a whole, the North West has seen an annual property price increase of 3.2% (*)

Peter Edwards branch manager for Reeds Rains Formby explains: “Overall home sales reached 90,000 in July, a boost of 13% from the previous month. This marks the first time this year that sales levels have overtaken the equivalent month in 2014 – and is actually the strongest July since 2007, when the market was building up to its pre-crisis peak.

“Turning the North-South divide on its head, the strongest sales growth has been taking part outside of London and the South East. The North and Yorkshire & Humberside have seen the fastest sales growth. It is purchases of detached properties which have seen the biggest quarterly boost – in the North, sales of this type of home increased by 41%.

However, first-time buyer sales have slowed since the start of 2015, and sales of flats have seen the slowest improvement. The current review of the Buy-to-Let market and measures to reduce the tax relief for landlords may help first-time buyers in future, easing some of the competition with property investors.”

If you would like to find out how Reeds Rains Formby can help you as a buyer or a seller, simply contact the local team at 18 Chapel Lane, Formby, Liverpool, L37 4DU or telephone them on 01704 878545 (**)

(*) Reeds Rains House Price Index July 2015
(**) Calls maybe recorded for monitoring and/or training purposes