Mon 18 Dec 2017 View all news articles
Welcome to our latest Wirral property market update. Using a combination of publicly available Land Registry and Rightmove data, we have been able to analyse the Wirral property market and answer some of the most popular questions. Whether you're currently in the process of moving or simply have an interest in Wirral property, it is important to keep up-to-speed with activity in your local area.
House prices have continued to rise over last five years
Over the past 12 months, there have been 3,537 transactions across Wirral with an average house price of £190,566. The Wirral market has seen an upward trend in house prices since 2013, with 2017 having the highest annual average price on record. Of those who sold a Wirral property over the past 12 months, 25% achieved full asking price. This may sound low, however it is very common for properties to sell below the original listing price. 2017 was a very competitive year for buyers which forced a greater volume of full asking price sales. On average, Wirral sellers achieved 96.8% of asking price over the past 12 months.
To put these figures into context, the graph below shows the average house prices for the past ten years:
Stock levels to increase in early 2018
There is always an element of uncertainty when trying to predict how the market might perform in a new year. That said, the first quarter typically brings the most sellers to market. Buyers will have noticed falling stock levels towards the back end of 2017 and will consequently find more options when searching for property earlier in the year. In quarter one last year, 2,100 properties were listed across Wirral while 1,200 achieved sales. This goes to show that stock levels will increase throughout the early parts of the year.
Figures from the past couple of years also show that the average sale price in quarter one is lower than the remaining quarters. We have found that many first time buyers enter the market early on in the year, while more expensive properties enter the market as chains start to build around Februrary and March.
Want a bespoke market report?
Want to know how prices have changed in your post code? We can produce a bespoke market update based on your post code and property type! To receive your free market assessment and property valuation, simply click here to arrange.
You can also contact your local branch 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.