If you’re in the market for buying a house in Liverpool at the moment then you’d better get in quick! The housing market in the city has exploded recently with Zoopla reporting a 7.9% rise in price growth. Not only are prices going up but properties are not hanging around very long once they come on the market. So much so that there aren’t enough properties to keep up with the demand from potential buyers. Indeed, Zoopla are reporting that the total stock of homes available to buy in the city has gone down by a whopping 24%
Aside from people realising what a cool place Liverpool is to live, this situation has also come about due to the governments Stamp Duty holiday and people re-evaluating their housing needs as a result of the pandemic. Even though the Stamp Duty holiday ended on 30th June the market shows no signs of slowing down with estate agents reporting a 55% increase in buyer demand compared with 2019. The largest share of that demand is for properties up to and under £250,000.
It is not just Liverpool that is enjoying a property boom. Manchester is hot on its heels with a 7.2% increase in house prices. This makes Liverpool and Manchester top of the table for house price growth amongst the UK’s largest cities. Out of the countries smaller towns and cities Rochdale and Bolton are also reporting record house price growth – Rochdale is up 9.9% and Bolton 8.7%.
So, there you have it, the North West is clearly a region on the up!
