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Liverpool Echo
Liverpool Echo
National
Alan Weston

Liverpool's property market boom adds £40k to asking prices

Homes across Liverpool are selling within a week of going on the market with eager house hunters paying up to £40,000 over the asking price.

New research from online estate agent Purplebricks revealed 58% of sellers in the city reported they sold for over the asking price, with 48% selling for £20-40k more.

In an indication of how busy the Liverpool property market is, 20% of sellers received an offer within just one week of putting their home on the market and over a third (35%) accepted an offer on their home within just two weeks.

READ MORE: Merseyside town that thinks it's still in Lancashire

The research showed sellers were able to make their dreams a reality thanks to a highly dynamic property market over the past two years - 90% of Liverpool sellers said they were either very or somewhat confident they would sell their home for a price they wanted within a reasonable time frame when they put their home on the market.

The research revealed 50% of those selling their home in Liverpool in the past two years did so because they were looking for a more peaceful way of life, a lifestyle change made possible by a combination of rising asking prices and high demand from prospective buyers.

The research, which looked at the motivations of UK adults who have sold their home in the last two years, also revealed that 37% sold their home in order to change their lifestyle and nearly a third (30%) wanted a completely different type of home.

Among the properties currently on the market for those looking for a change in lifestyle was a four bedroom property with uninterrupted views of Camp Hill and Woolton Woods, with an asking price of £650,000.

Perhaps in a bid to make their search for a more peaceful lifestyle a reality, almost quarter (23%) moved to the countryside or seaside - although the same amount (23%) still wanted to move to suburbia. Despite sellers' desire to change their lifestyles, however, most did not move far - 41% only moved 50 miles or less from their previous home.

Over a third (37%) purchased a modern home requiring less maintenance., 39% looked for a house with a home office, and 27% wanted somewhere with two home offices, driven by the changes in working habits due to the pandemic.

Not only were over half of sellers (52%) looking for a bigger garden in their new home, but over a third (36%) were after a home with space for an allotment or somewhere they could grow vegetables.

Semi-detached homes were the most sought after property type, with almost a third (30%) of sellers choosing to move into semi-detached houses, followed by a house with land (16%).

Kris Dykes, managing director North for Purplebricks said: "The events of the past 18 months have made many of us consider a change of lifestyle.

"This is one of the factors that has contributed to the highly dynamic, fast-paced property market we have seen in recent months.

"Our research shows that the confidence we can see among those selling their properties is entirely justified, with highly motivated buyers keen to move quickly with many looking to achieve a more peaceful lifestyle.

"Now is the perfect time for sellers to make their dreams a reality when it comes to purchasing their ideal home."

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