Sat 01 Apr 2017 View all news articles
Did average prices across Wirral increase in 2016?
In what was a challenging year for the UK economy, many areas across the country saw the value of property increase in 2016.
For the Wirral, a 3.3% increase on 2015 means that average prices in the area have never been higher. Compared with the whole North West region, average prices in Wirral are 3% higher and saw a greater increase in average prices last year. This is positive news for Wirral homeowners as the local market continues to perform above the average level for the region.
What characterises the Wirral property market?
The make-up of the Wirral property market has remained largely similar for many years, and 2016 was no different.
The nature of the local market dictates that semi-detached properties sell more frequently than any other type; availability and affordability make them popular with Wirral residents. In fact we found semi-detached properties sold faster on average than any other type across Wirral last year. Looking at average prices last year, both terraced and detached properties saw an average price increase of above 4%.
In with the new?
Since the recession in 2007 the ‘new build’ market has never quite reached the same volumes, although an increase in construction of more expensive detached houses since 2013 has seen a rise in the average price of new build properties to above £200,000. The investment in new apartments across Wirral has also seen growth in recent years. Their appeal to both first time buyers and downsizers make them a popular choice to suit the lifestyles of many in the area.
If you are interested in new build properties, make sure you visit our dedicated Land & New Homes page here.
As leading Wirral estate agents and lettings agents we have plenty to talk about and like to give our opinions on a few things too! Read about what we have to say, our latest news and industry news.