Toxteth in Liverpool leads the list of Britain’s top 10 places where house prices are rising fastest, having shot up by an average of 20% over the past year.
The North West has five of the top 10 hotspots (scroll down for the full list) – a region where asking prices have risen by 8% on average since September 2020.
Rightmove said nearly three-quarters (71%) of areas across Britain have hit record asking prices since the start of last year and that the average nationwide stands at £338,462 – up by 5.8% and also a record.
Tim Bannister, Rightmove’s director of property data, said “competition for properties” was behind the rise.
“The number of homes for sale is at a record low, and buyer demand remains high,” he explained.
In Toxteth, the average asking price for a home is £151,958, which still puts it in the top 10% of the cheapest areas across Britain. But the average house price has jumped from £126,806 since September 2020.
Warren Matthews, from James Kristian Estate Agents in Liverpool, put the rise down to “improvements in the area”, which were attracting first-time buyers and investors alike.
“This has pushed demand up which has therefore significantly increased prices in the area, and we’re still seeing high levels of buyer interest as we approach the final months of the year,” he said.
Below is a list of the average asking prices in September 2021 and the percentage increase for the top 10 hotspots, according to Rightmove:
1. Toxteth, Liverpool, Merseyside, £151,958, 20%
2. Accrington, Lancashire, £139,220, 19%
3. Retford, Nottinghamshire, £210,761, 19%
4. Heywood, Greater Manchester, £194,634, 19%
5. Brixham, Devon, £318,859, 18%
6. Crowborough, East Sussex, £501,537, 18%
7. Aberdare, Rhondda Cynon Taf, £165,322, 18%
8. Moortown, Leeds, West Yorkshire, £327,804, 17%
9. Penwortham, Preston, Lancashire, £251,478, 17%
10. Great Sankey, Warrington, Cheshire, £270,621, 16%