HOUSE prices dropped by 1.4% in Wirral in December, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 0.8% over the last year.
The average Wirral house price in December was £211,532, Land Registry figures show – a 1.4% decrease on November.
Over the month, the picture was different to that across the North West, where prices increased 2.5%, and Wirral was lower than the 0.1% rise for the UK as a whole.
Over the last year, the average sale price of property in Wirral rose by £1,600 – putting the area 12th among the North West’s 35 local authorities with price data for annual growth.
The highest annual growth in the region was in West Lancashire, where property prices increased on average by 9.8%, to £253,000. At the other end of the scale, properties in Hyndburn lost 7.8% of their value, giving an average price of £120,000.
First steps on the property ladder
First-time buyers in Wirral spent an average of £177,840 on their property – £870 more than a year ago, and £39,520 more than in December 2018.
By comparison, former owner-occupiers paid £243,560 on average in December – 37% more than first-time buyers.
Property types
Owners of detached houses saw the biggest fall in property prices in Wirral in December – they dropped 1.6% in price, to £364,018 on average. But over the last year, prices rose by 1.5%.
Among other types of property:
Semi-detached: down 1.2% monthly; up 1.5% annually; £238,944 average
Terraced: down 1.6% monthly; down 0.3% annually; £160,700 average
Flats: down 1.2% monthly; down 0.2% annually; £122,804 average
How do property prices in Wirral compare?
Buyers paid 3.1% less than the average price in the North West (£218,000) in December for a property in Wirral. Across the North West, property prices are low compared to those across the UK, where the average cost is £285,000.
The most expensive properties in the North West were in Trafford – £366,000 on average, and 1.7 times the price as in Wirral. Trafford properties cost 3.4 times the price as homes in Burnley (£107,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea.
Factfile
Average property price in December
Wirral: £211,532
The North West: £218,353
UK: £284,691
Annual change to December
Wirral: +0.8%
The North West: +1.2%
UK: -1.4%
Highest and lowest annual growth in the North West
West Lancashire: +9.8%
Hyndburn: -7.8%
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