Merseyside house prices slashed since financial crisis, figures reveal
By Lucy Roue
Average asking price for a property now stands at £148,452 in the region
House prices across Merseyside have been slashed since the financial crisis
House prices across Merseyside have been slashed since the financial crisis, a major new survey has revealed.
According to property giants Rightmove the average asking price for a property now stands at £148,452 in the region.
This is around 9% less that the average price in May 2008, when the market was at its strongest.
The figures come from a new "house price trendometer" tool which Rightmove has created.
The tool allows people to compare asking prices in their area since the website's records started in 2001.
Merseyside has seen the sixth largest dip in asking prices with County Durham, the Isle of Wight, West Yorkshire and Teesside having more distance still to recover, according to the property website.
However, house sellers in London, Cambridgeshire, Berkshire and Surrey have made the strongest gains since the financial crisis struck.
With an average price tag of £1.5 million, asking prices in central London and the City tower 41.9% above the levels seen when the housing market was at its pre-crisis peak in 2008.
Miles Shipside, director of Rightmove, said: “While at a high level the South has out-performed the North, being able to dig underneath that courtesy of the millions of properties advertised on Rightmove since 2001 shows a really varied county versus county performance.”
In the north, only a handful of areas surpassed the pre-crisis asking prices including Cheshire and North Yorkshire.
The first now stands at £213,618, 1.1% higher than in 2008, and prices in North Yorkshire have reached £244,776.
According to the study, which covered England Wales, the average Merseyside asking price in December 2007 stood at £161,016.