Comparison of property prices in St Helens year-on-year

NEW figures have revealed a slight increase in St Helens house prices in October.

Prices rose by a total of 0.2 percent over the course of the month.

The rise adds to the longer-term trend, which has seen property prices in the region rise 13.4 percent over the past year.

The average house price in St Helens in October was £179,279, Land Registry figures show – up 0.2 per cent on September.

Over the month the picture was similar to that in the North West where prices rose 0.5 per cent and St Helens was below the 0.3 per cent rise for the UK as a whole.

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Over the last year, the average selling price of a property in St Helens has increased by £21,000 – putting the area 19th out of 39 local authorities in the North West with price data for annual growth.

The region’s highest annual growth was in Warrington, where house prices rose an average of 17.6 per cent to £267,000. At the other end of the scale, properties in Rossendale appreciated by 4.6 per cent to an average price of £189,000.

Average house prices in the UK rose 12.6 per cent for the year to October, accelerating from 9.9 per cent in September.

The increase in annual percentage change was partly caused by a sharp drop in average house prices in October 2021 following changes in stamp duty.

The average house price in the UK was £296,400 in October, up £33,000 year-on-year.

Tom Bill, Head of UK Residential Research at Knight Frank, said: “Despite today’s numbers, double-digit growth in UK house prices is a thing of the past.

“Even if the reverberations of the mini-budget are fading, a less favorable credit landscape is emerging after 13 years of extremely low interest rates.”

First-time buyers in St Helens spent an average of £161,000 on their property – £19,000 more than a year ago and £49,000 more than in October 2017.

By way of comparison, former owner-occupiers paid an average of £201,000 in October – 24.9 per cent more than first-time buyers.

Single-family homeowners saw the biggest rise in house prices in St Helens in October – they rose 0.6 per cent to an average of £299,351. Prices rose 13.9 percent last year.

https://www.sthelensstar.co.uk/news/23203920.house-prices-st-helens-compare-last-year/?ref=rss Comparison of property prices in St Helens year-on-year

Brian Ashcraft

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