Introduction
Our Regional Market Report series examines how each local planning authority (LPA) is performing in the North West.
In this report we look at how LPA's housing markets perform over the past ten years, and look at their affordability.
North West House Price Growth Over Ten Years
Over the decade spanning February 2013 to February 2023, the North West has seen its house prices grow by over 68%. However this is lower than England's overall house price growth of 74%.
In Greater Manchester, Salford tops the league of LPAs with house price growth of 102.69%, while Bolton has a more modest increase of 73.37%.
Moving towards Merseyside, St Helens leads with growth of 76.03%. On the other hand, Sefton trails with a growth rate of 56.76%.
In Cheshire, Warrington is on top with a growth rate of 78.89%. Cheshire West and Chester, meanwhile, shows a growth rate of 64.84%.
Cumbria, unfortunately has no data available.
Finally, within Lancashire, Rochdale leads with an 88.71% growth rate, while Preston has the smallest increase at 41.82%.
North West House Price Growth over One Year
In the year between February 2022 and February 2023, the North West saw house prices grow by 6.97%, a bit higher than England's overall growth of 6.05%.
In Greater Manchester, Salford leads again with a growth rate of 11.03%, while Bury trails with a lower yet noteworthy increase of 5.66%.
Shifting towards Merseyside, we see St. Helens leading again with 13.35% growth. Conversely, Wirral shows the least growth at 6.02% – higher than Greater Manchester's lowest performer.
In Cheshire, Cheshire West and Chester impresses with a growth rate of 10.07%, and Warrington is the lowest performer at a still impressive 7.87%.
Cumbria, unfortunately has no data available.
Wrapping up with Lancashire, Fylde stands out with a growth rate of 14.24%, significantly outperforming Blackpool which saw the lowest growth in the region, at 3.02%.
North West Affordability
The most affordable housing for residents can be found in Burnley in Lancashire with residents facing house prices at 4.1 times their earnings. On the other hand, the least affordable houses can be found in Trafford in Greater Manchester with houses selling for 9.58 times residents earnings.
Related Resources
If you've enjoyed the data insights about the housing market in the North West, check out our other planning reports for the region below: