House sales fall 50% in Merseyside in just one year

Oct 6 2008 By David Bartlett

property prices

HOUSE sales in Merseyside and Cheshire have fallen by almost half during the past year, new figures compiled by the Daily Post show.

The figures are revealed in our most in-depth examination of the region’s property market to date – including the average price of a detached, semi-detached, terraced, or apartment of most postcodes in the area.

Compiled using data from the Land Registry, sales were down 39% in the L postcode areas which includes Liverpool, Knowsley, West Lancashire and most of Sefton for the year to June – the period for which the latest figures are available.

The number of sales in the CH area, which includes Wirral, Chester, Ellesmere Port, and Neston was down 45%. Last night, estate agents warned that, until the world’s financial markets stabilised, it was difficult to say exactly when sales would pick up.

It follows the revelation last week that Liverpool’s housing market had undergone one of the five steepest declines in the country, suffering a 13% fall in values in the year to September.

Paul Lea, of Bradshaw, Farnham, and Lea, said: “It’s a tough old business at the moment. People were starting to come back, but then all of a sudden it’s dead again.”

LDP investgiation reveals worrying falls > > >