It has been more than 13 years since the 2008 financial crash that wiped millions of pounds from the housing market.
Liverpool and Merseyside’s property prices are now above pre-crash levels, according to new research, but it took more than a decade to get there.
According to data from Just Move In, it took the region around 11 years to reach the record levels.
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In the crash, back in September 2007, Merseyside as a whole had an average house price of £141,871.
It took 10 years and 9 months for the region to get back on track with an average price of £142,074 in June 2018.
Now in 2021 the average is £174,545 which is 123% above the previous peak in 2007.
Liverpool had a peak of £130,249 in September 2007 and took 10 years and 10 months to return above these levels at £133,087, in July 2018.
Now the average is £165,940 in the city, which is 127% above the previous peak.
However some regions in the country such as Durham and Hartlepool are yet to recover to pre-crash levels.
The average UK home peaked at £190,032 in September 2007, and is currently 142% higher at £269,945.
The average home in Durham was £119,447 in the latest Land Registry figures, which was £2,890 below its £122,337 pre-crash peak in October 2007.
Hartlepool prices are £129,438, £3,498 lower than the £132,936 it topped out at in November 2007.
While Blackpool and Middlesbrough finally recovered to pre-crash levels in the latest Land Registry data, and are among 13 regions that took more than 13 years to do so.
London was the quickest region to recover from the crash, with prices bouncing back 24 months later. Find the full research here.
Ross Nichols, Co-founder of home setup service Just Move In, said: "The housing market has exploded over the past year, but it’s sobering to think that parts of the country have only recently recovered to the levels they were before the 2008 crash.
"Hartlepool and Durham are the last two parts of the country that still haven’t hit that level, while Blackpool and Middlesbrough only recovered in the most recent figures.
"There’s a North-South divide when it comes to the recovery, with London and other Southern cities bouncing back quickly, while Northern areas are still lagging behind."
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