House prices are at an all-time high in the UK after the sixth consecutive rise this year. The average price of a property coming onto the market across the country is now at a record of £369,968, with buyer demand now 26% higher than the peak in 2019.
Across the north west of England, house prices vary drastically from one area to the next. With an overall average price of £222,242, homes in the north west are priced similar to nearby Yorkshire and the Humber, but more expensive than in the north east.
Using data from the H M Land Registry, here we look at the average house prices across Greater Manchester, Cheshire, Cumbria, Lancashire and Merseyside to find out how they compare in affordability.
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Greater Manchester
In Greater Manchester, the average house price currently stands at £236,876, which is the second most expensive in the north west.
The majority of sales during the last year were semi-detached properties, selling for an average price of £249,596. Terraced properties sold for an average of £176,421, with detached properties fetching £417,178.
The most expensive area within Greater Manchester is Bowdon, where you can expect to buy a home for £853,015, and the cheapest is Ince, where houses are priced at £124,511.
Cheshire
Over in Cheshire, the average house price is currently £289,994 - making it the most expensive county to buy a home in the north west.
The most popular type of property sold in Cheshire in the last year was semi-detached properties, selling for an average price of £253,215. Detached properties sold for an average of £469,844, whereas terraced properties were bought for around £189,236.
Cheshire's most expensive area is Alderley Edge which has an overall average price of £786,247, and the cheapest is Latchford where house prices are around £152,284.
Cumbria
Cumbria is cheaper than Cheshire and Greater Manchester with its average house price of £204,991 over the last year.
The majority of sales in Cumbria are terraced properties selling for an average price of £141,599. Semi-detached properties sold for an average of £194,749, with detached properties fetching £362,851.
The cheapest area of Cumbria is Cleator where house prices are extremely low at just £94,189 - making it the most affordable area to buy a home in the north west. The priciest part of the county is Coniston, where homes are priced at around £799,000.
Lancashire
Properties in Lancashire are the cheapest compared to the rest of north west, with homes priced at £186,873 on average.
During the last year, the most popular sale was terraced properties selling for an average price of £128,974. Detached properties sold for £328,253 and semi-detached properties sold for an average of £186,441.
The most expensive area within Lancashire is Bispham, with an average house price of £641,429, and the cheapest is Nelson where homes are priced at around £95,323.
Merseyside
Merseyside is the country with the second lowest average house price in the north west, with properties selling for an average of £201,926.
Last year most properties sold in Merseyside were semi-detached homes, which sold for an average of £214,330. Terraced properties sold for an average price of £143,543 whilst detached properties stretched to£372,624.
The priciest area within Merseyside is Caldy, with house prices around £792,500), and the least expensive was Walton with an average price of £118,039.
Properties in Merseyside area generally cheaper than Cheshire, Greater Manchester and Cumbria.
House price data is publicly available information produced by the HM Land Registry. These figures were last updated on July 21, 2022.
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