Property prices to increase in Liverpool

Permalink: Property prices to increase in Liverpool
by Kay Murchie

Currently, the average cost of a home in Liverpool is just a few pounds short of £130,000 while the national average is £184,070.

UNESCO (the United Nations Educational, Scientific and Cultural Organisation) is renewing Liverpool’s status as a World Heritage Site and in 2008, the city is due to be the European Capital of Culture.

It is anticipated that the city will be attractive to potential buyers and investors. The city is undergoing a transformation with city-centre warehouses being turned into residential and commercial property. Market observers and local authorities are expecting a boost to the local property market.

Recent figures from the Nationwide indicate that every region in the UK noted a rise in property prices during the first 6 months of 2007. However the north-west was the slowest mover with an annual rate of growth of just under 6%.