Land Registry Shows Growth in Liverpool Property Market
With the arrival of the latest HM Land Registry UK House Price Index data, we take a look at the state of the current Liverpool property investment and analyse why it still represents an excellent buy-to-let landscape despite high inflation and interest rates.
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What Did the UK House Price Index Say About the Liverpool Property Market?
The latest figures show that house prices increased by 2.2% in August (year-on-year), which is 2% higher than growth across the country as a whole. In addition, prices also increased by 1.6% between July and August.
According to the data, the average property price rose by £3,900.
As such, the most recent average Liverpool house price is £180,286. In comparison, the national average house price is £291,044. This makes Liverpool property prices around 47% cheaper.
Meanwhile, the North West saw prices remain static between July and August, while Liverpool’s monthly rise was above the 0.3% national rise.
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Liverpool and UK Property Prices at a Glance
| Area | Average Property Price | Price Growth Annually |
|---|---|---|
| Liverpool | £180,268 | 2.20% |
| North West | £215,791 | 0% |
| UK | £291,044 | 0.20% |
What Does This Mean for Liverpool’s Average Rental Yield?
With Liverpool’s property prices rising, rental yields have also shifted.
Home.co.uk puts the average rent in Liverpool at £1,030 PCM. As such, the average rental yield in this city is 6.8%.
The country has an average rental yield of 5.2%, making Liverpool a more lucrative buy-to-let property market than many other cities.
How Did Liverpool Compare to the Rest of the North West?
The figures show that buyers in Liverpool paid 16.5% less than North West’s average price. However, North West prices (around £216,00) are much lower than the national average.
Across the North West, the most expensive properties were in Trafford in Greater Manchester – roughly £372,000 and more than 2% more expensive than Liverpool properties. On the other end of the scale, Burnley prices are around £111,000, which saw a 5.6% decrease in price.
As usual, the highest property prices were in London – Kensington and Chelsea at roughly £1.4 million.
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What Else Did the UK House Price Index Say About Liverpool’s Property Market?
The UK House Price Index showed the difference between first-time buyer activity and those who previously owned a property.
First-time buyers spent £158,900 on their homes – more than £ 3,000 more than in August 2022 and £42,000 more than in 2018.
Former owner-occupiers paid roughly £200,000 on average, more than 25% greater than first-time buyers.
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What Are the Average Liverpool Property Prices By Property Type?
As you would expect, detached properties are the most expensive type of home in Liverpool, rising 4.1% over the year to £362,797 on average.
Interestingly, Liverpool’s flats and apartments saw a 3.70% growth, suggesting that Liverpool’s buy-to-let apartment market continues to attract investors to the city centre.
See the full breakdown below:
| Property Type | Average Price | Price Growth (Annual) | Price Growth (Month) |
|---|---|---|---|
| Detached | £362,797 | 4.10% | 1.80% |
| Semi-detached | £222,872 | 2.40% | 1.70% |
| Terraced | £157,049 | 1.20% | 1.60% |
| Flats | £136,518 | 3.70% | 1.30% |
Want to stay up-to-date with the latest buy-to-let opportunities in the UK? Read our recent RWinvest insights for more information on the UK property market!
