How much are house prices rising in St Helens?
HOUSE prices increased by 3.6 per cent in St Helens in April– more than the average for the North West, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 15.3 per cent over the last year.
An imbalance between supply and demand for properties has remained the primary reason behind climbing house prices across the UK throughout the pandemic.
The need for larger deposits and constraints on accessing mortgages have pushed homeownership further out of reach for many first-time buyers – despite Government figures showing 50 per cent of renters would be able to afford the monthly payments.
In a recent major speech in Blackpool, Prime Minister Boris Johnson announced a “comprehensive review” of the mortgage market would take place in a bid to help more people onto the property ladder.
What’s the average house price in St Helens?
The average St Helens house price in April was £172,119, Land Registry figures show – a 3.6 per cent increase on March.
Over the month, the picture was different to that across the North West, where prices increased 2 per cent, and St Helens was above the 1.1 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in St Helens rose by £23,000 – putting the area sixth among the North West’s 39 local authorities with price data for annual growth.
The highest annual growth in the region was in Burnley, where property prices increased on average by 18.6 per cent, to £119,000. At the other end of the scale, properties in Pendle gained just 2.7 per cent in value, giving an average price of £125,000.
What about first time buyers
First-time buyers in St Helens spent an average of £154,000 on their property – £20,000 more than a year ago, and £44,000 more than in April 2017.
By comparison, former owner-occupiers paid £193,000 on average in April – 25% more than first-time buyers.
Owners of detached houses saw the biggest rise in property prices in St Helens in April – they increased 3.6%, to £289,914 on average. Over the last year, prices rose by 17.6%.
Among other types of property:
- Semi-detached: up 3.6% monthly; up 16% annually; £179,045 average
- Terraced: up 3.5% monthly; up 13.8% annually; £132,282 average
- Flats: up 2.9% monthly; up 9.2% annually; £94,290 average
How do property prices in St Helens compare
Buyers paid 17.6 per cent less than the average price in the North West (£209,000) in April for a property in St Helens. Across the North West, property prices are lower than those across the UK, where the average cost £281,000.
The most expensive properties in the North West were in Trafford – £347,000 on average, and twice as much as more than in St Helens. Trafford properties cost 2.9 times as much as homes in Burnley (£119,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea.
Average property price in April
St Helens: £172,119
The North West: £208,867
Annual growth to April
St Helens: +15.3%
The North West: +13.3%
Highest and lowest annual growth in the North West