A detached property in an exclusive quarter of Formby was the most expensive home sold on Merseyside in the first three months of this year, according to the latest figures from the Land Registry.
The house at 4 Shireburn Road in the Freshfield area of Formby was sold for £2.25 million on February 1. Shireburn Road is just off Victoria Roaddubbed ‘Millionaire’s Row’ thanks to the number of exclusive properties in the area.
Jurgen Klopp, Wayne Rooney, John Parrott and Brendan Rogers all having lived in the Freshfield area over the years. Four of the most expensive property transactions took place in Formby between January and March this year, according to Land Registry figures.
The second most expensive home according to the latest figures was Orrick House on Gayton Lane, Wirral. The house sold for £1.95 million on February 18.
The third highest , at 26 Stanley Avenue, Wirral, sold for £1.35 million on February 18. The fourth, was at 27 Timms Lane, Formby. The house sold for £1.18 million on January 28.
A house at 5A Burrell Road, Prenton, was the fifth most expensive sold. The house changed hands for £1.02 million on February 16.
8 Breeze Road in the Birkdale area of Southport, was the sixth most expensive sold on Merseyside. The house at number eight changed hands for £890,000.
The Old Rectory on Acrefield Road in Woolton came seventh. The house changed hands for £888,100 on February 25.
In eighth place was 51 Meols Drive, Hoylake, Wirral. The detached house sold for £880,000 on January 7.
Two homes in The Pinewoods, off Victoria Road in Formby, came ninth and tenth in the list. number 1 The Pinewoods sold for £861,800 on February 11. Number 4 The Pinewoods sold for £830,000 on February 21.
A house on Stanley Park Avenue South in Anfield was the cheapest property sold on Merseyside between January and March this year. The house at 208 Stanley Park Avenue South sold for £25,000.
Flat 10, 165 Roxburgh Street, Bootle, was the second cheapest on the list. The flat changed hands for £35,000 on January 20.
Flat B, at 53 Rocky Lane, Anfield, Liverpool, was third cheapest. The flat sold for £39,999 on January 06.
In fourth place was 76 Wedge Avenue, Haydock, St Helens. The terraced house sold for £40,000 on February 18.
A terraced house at 35 Allington Street, Liverpool, was the fifth cheapest. The property sold for £40,000 on March 8.
In sixth place was a house on 22 Beechdene Road, Liverpool. The terraced house sold for £40,000 on March 8.
Apartment 21, Bower House, Manorside Close, Wirral, was the seventh cheapest. The flat sold for £45,000 on January 7.
A flat on Bath Street in Southport sold for £45,000 on March 07. In ninth place was 101 Liscard Road, Wallasey. The property changed hands for £47,000 on February 15.
A flat at 65A Poulton Road, Wallasey sold for £47,000 on February 24.
Average house prices across the UK increased by 10.9% over the year to February 2022, up from 10.2% in January 2022, according to the most recent figures from the Office for National Statistics.
Between the beginning of 2016 and the end of 2019, there was a general slowdown in UK house price growth, driven mainly by a slowdown in the south and east of England. The start of 2020 saw a pick-up in annual growth in the housing market before the coronavirus restrictions were put in place at the end of March 2020.
Recent price increases may reflect a range of factors including some possible changes in housing preferences and a response to the changes made to property transaction taxes across the nations. In July 2020, the Chancellor announced a suspension of the tax paid on property purchases in England and Northern Ireland, with similar suspensions announced in Scotland and Wales.
In England and Northern Ireland, properties up to the value of £500,000 would incur no tax, while the thresholds for Scotland and Wales were £250,000. This may allow sellers to request higher prices as buyers’ overall costs are reduced. The tax holiday for Scotland ended on March 31, 2021. It was extended until June 30, 2021 in Wales, while in England and Northern Ireland, it was extended until the same date but the threshold will then decrease to £250,000 before ending on September 30, 2021.
This may have accounted for a rush of demand in mid-2021, as annual price rises soared to a 13.5% increase in the year to June 2021. There was another smaller rush in September, with annual growth at 11.5% that month.
According to the Land Registry, 22,298 home sales have been registered for January, 29,353 for February, and 9,519 for March. It may take several weeks for sales to be registered after completion so some sales from later in the period may not be listed yet. The impact of coronavirus has meant that it is taking longer than for sales to be registered.
The Land Registry has also warned its services are likely to be disrupted due to the pandemic, particularly the process of registering a new sale, which likely means a longer delay between the house sale completing and the record being updated at the Land Registry. Based on the data covering the period so far, across England and Wales, there were 1,883 £1m or more sales, including 374 at £2m or more.
The Land Registry lists the price paid for every property bought at market value. The data also includes sales under a power of sale/repossessions, buy-to-lets (where they can be identified by a Mortgage) and transfers to non-private individuals.
As the data relies on buyers, or their solicitors, registering the sale and the price paid with the Land Registry, mistakes in listings may happen, they are usually corrected at a later date. Issues can include figures with too many digits or shared ownership prices paid for a part share listed as the whole price.
Over the same period, the most expensive home sold in England and Wales was 14 Hyde Park Gate, London, Kensington and Chelsea, Greater London, SW7 5DG, which is a terrace house, and which sold for £22,700,494 on January 6. At the the other end, the least expensive was 36 Kenilworth Court, Washington, Sunderland, Tyne and Wear, NE37 3EA, a flat, sold for £16,500 on January 25.
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