St Helens saw an increase in house prices this March, outpacing both the North West’s and the national average increases. The latest figures highlight a 2.6% rise in property values over February, bringing the average house price in St Helens to £182,375. This increase is more than double the North West’s overall growth of 1.1% and nearly quadruple the UK’s average rise of 0.7%.
Yearly Growth Trends
Despite a robust performance in March, St Helens has experienced a modest annual growth rate of 0.3% over the past year. This positions St Helens in the 25th spot among the 35 local authorities in the North West for annual property price increases. In contrast, the highest annual increase in the region was in West Lancashire, where house prices soared by 12.3% to an average of £246,000. On the other end, Burnley saw a significant decrease, with prices dropping by 8.2%, landing at an average of £103,000.
Market Dynamics for Different Buyers
The property ladder in St Helens presents varied rungs for first-time buyers and former owner-occupiers. First-time buyers in March spent an average of £163,660 — slightly higher by £480 compared to last year, and significantly up by £47,760 from March 2019. Former owner-occupiers, however, faced steeper prices, paying an average of £204,480, which is 24.9% more than what first-time buyers spent.
Property Type Performance
Different types of properties in St Helens have shown diverse trends:
- Detached houses saw the largest increase in March, climbing 3.3% to an average price of £304,181, with an annual increase of 2.4%.
- Semi-detached homes followed closely, with prices up by 2.7% in March and a 0.7% rise over the year, averaging £189,961.
- Terraced houses experienced a 2.1% monthly increase but dropped slightly by 0.6% annually, with an average price of £140,972.
- Flats increased by 2.6% in March, though they declined by 2.6% over the year, averaging £102,662.
Comparative Analysis
When comparing St Helens to broader markets, buyers there paid 15.8% less than the North West average of £217,000 and considerably less compared to the UK average of £283,000 in March. The most expensive properties in the North West were located in Trafford, where the average house cost £357,000, nearly twice that of St Helens and 3.5 times the price of homes in Burnley.
To encapsulate, here’s a quick snapshot of property prices as of March:
- St Helens: £182,375
- The North West: £216,501
- UK: £282,776
Annual Growth to March:
- St Helens: +0.3%
- The North West: +3.8%
- UK: +1.8%
The highest and lowest annual growths in the North West were observed in Lancashire (+12.3%) and Burnley (-8.2%), respectively.