House prices across the United Kingdom have continued to rise rapidly, with Liverpool and Merseyside reaching record new highs in April 2022. Average prices in Liverpool rose by 10.5% year on year to reach £174,890, and by 10.2% to reach £184,880 in Merseyside as a whole. St Helens recorded the biggest annual increase of anywhere in Merseyside with 15.5%, followed by Knowsley with 13.5%, while Sefton had the highest average price at £201,519, representing 9.8% annual growth.
Record house prices nationwide are being driven by an imbalance caused by pent-up demand for properties and a concurrent lack of supply. In Liverpool, residential property sales grew by 30% in April to June compared with the same quarter in 2021, with the suburbs proving particularly popular as buyers look for better value and more spacious properties away from the city centre. Meanwhile, Liverpool waterfront has become one of the sought-after residential areas in the north west, following millions of pounds of investment in the regeneration and development of the area.
Many property market analysts believe that Liverpool and Merseyside are key areas for investment, with current and future regeneration projects providing long-term security for buyers. Analysts also highlight Liverpool as a good place for first-time buyers and property owners wishing to move homes. The city and region remain relatively cheap, with homes in Liverpool selling for around £237 per square foot, compared with London (£678) and Manchester (£353). Liverpool is also attractive to property investors due to its consistently high rental yields, while the city remains popular with both tenants and buyers due its vibrant, cosmopolitan lifestyle and unique cultural attractions.
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