Toxteth named new price hotspot as prices rise 20% in a year

  • Toxteth in Liverpool is revealed as the new top price hotspot, seeing the biggest rise of 20% in average asking prices over the last year
  • Accrington in Lancashire, Retford in Nottinghamshire and Heywood in Greater Manchester have all seen rises of 19% in average asking prices
  • Five of the top ten price hotspots are in the North West, where asking prices have risen by 8% on average since September 2020, and properties are finding a buyer two weeks quicker
  • Since the start of last year, almost three quarters of areas around Great Britain (71%) have hit record asking prices, which could signal an opportunity for homeowners considering a move to take action now to maximise returns

New data from the UK’s biggest property website Rightmove reveals Toxteth in Liverpool is the new top price hotspot across Great Britain, with average asking prices rising by 20%, the biggest increase compared to this time last year.

The average asking price for a home in Toxteth is £151,958 putting it in the top 10% of the cheapest areas across Great Britain, although this is a jump up from £126,806 in September 2020.

Accrington in Lancashire, Retford in Nottinghamshire and Heywood in Greater Manchester are next in the list, where asking prices rose by 19% each in September compared to last year.

Five of the top ten hotspots are in the North West, with asking prices across the region rising by an average of 8% on last year, and properties are finding a buyer two weeks quicker than in September 2020.

The national average asking price currently stands at a record of £338,462, up 5.8% compared with September 2020.

Since the start of last year, almost three quarters of areas around Great Britain (71%) have hit record asking prices, and seven regions across Great Britain (North West, West Midlands, Wales, South West, East Midlands, East of England & South East) have seen upwards of 6% growth in asking prices.

Tim Bannister, Rightmove’s Director of Property Data comments: “There’s been significant growth across so many areas of Great Britain over the past year, which is reflected in the new price hotspots, where six different regions appear in the top ten. The number of homes available is at a record low, and buyer demand remains high. This competition for properties is supporting price growth. Homeowners in these areas, or in the many areas across Great Britain that have seen record growth this year, might be thinking that now is the time to consider moving, so we’d recommend speaking to your local agent for advice on making the move.”

Warren Matthews, agent at James Kristian Estate Agents in Liverpool said: “Due to the improvements in the area, places like Toxteth have grown in popularity, and we’re now seeing properties appeal to a wide range of buyers, from first time, next time and investors. This has pushed demand up which has therefore significantly increased prices in the area, and we’re still seeing high levels of buyer interest as we approach the final months of the year.”

Location Average Asking Price September 2021 Average Asking Price September 2020 Increase in average asking price
Toxteth, Liverpool, Merseyside £151,958 £126,806 20%
Accrington, Lancashire £139,220 £116,547 19%
Retford, Nottinghamshire £210,761 £177,462 19%
Heywood, Greater Manchester £194,634 £163,972 19%
Brixham, Devon £318,859 £269,110 18%
Crowborough, East Sussex £501,537 £424,648 18%
Aberdare, Rhondda Cynon Taf £165,322 £140,120 18%
Moortown, Leeds, West Yorkshire £327,804 £279,663 17%
Penwortham, Preston, Lancashire £251,478 £214,595 17%
Great Sankey, Warrington, Cheshire £270,621 £232,429 16%

 

ENDS

Notes to editor

  • Average asking prices compare September 2021 with September 2020

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