Liverpool homeowners seeking to sell their property have been advised to “act fast” to take advantage of the current market conditions.

New figures from LSL Property Services/Acadata show that house prices in the Liverpool City Region have risen by 5% in the last year.

Commenting on the data, Helen Griffin-Booth, director at Bluerow Homes, says the present economic climate makes it the ideal time to offload a property in Merseyside.

She tells Your Move: “At the moment, the economy is performing well and so demand is dramatically outstripping supply. Set this picture against the current low housing supply and we are presented with a dramatic rise in house prices, as more and more first time buyers vie to get onto the property ladder. This is a winning recipe for those looking to sell up and achieve their desired asking price.

“However, this rate of growth is set to slow down as the year unfolds, as our economy is faced with the effects of Brexit and further changes to Stamp Duty and mortgage interest tax relief. I would urge anyone who is thinking about selling to act fast and take advantage of the current market.”

February’s house price surge has been attributed to high demand for apartments in Liverpool from both young professionals and buy-to-let investors targeting the student demographic.

In January, property in the Liverpool City Region hit a new peak, with average prices up 0.5%.

Related posts:

Predicted house price rise is ‘welcome’ news for Liverpool market Liverpool sees strong first-time buyer sales in January Galliford Try to deliver affordable homes around Liverpool region Liverpool market will ‘continue to thrive’ amid new Brexit uncertainty Residents invited to join cash-saving ‘collective switch’ energy scheme Housing providers join forces in anti-cannabis campaign