According to the Land Registry’s latest House Price Index for Liverpool and the surrounding locality, the value of apartments/flats are rising at a faster rate than terraced/town houses, semi-detached properties and even detached property.
Values of apartments in Liverpool have increased by 10.38% over the past year, which is proportionally 21% more than the Liverpool average rise of 8.56%. The last time flats/apartments in Liverpool out performed all the other types of property, by such a gulf, was back in the autumn of 2002. For comparison, the other property types performed as follows ..
- Detached homes rose by 9.7%
- Semi-detached homes rose by 8.38%
- Terraced/Town-Houses rose by 7.79%
This moderately increasing rate of property value growth is opportune – but no one should confuse it with a strong and vigorous healthy Liverpool property market. Instead, it is somewhat an indicator of the long-lasting lack of property on the market. In fact, I have spoken about the lack of homes for sale in Liverpool on a number of occasions in my Liverpool Property Blog and whilst it isn’t as bad as it was 12 months ago – choice is quite limited for buyers.