The UK’s top 10 places where asking prices are rising fastest have been revealed.
Toxteth in Liverpool has been identified as the top house price hotspot, with a 20% increase in the average price tag for a home over the past year.
The average asking price for a home in the area is £151,958, which still puts it in the top 10% of the cheapest areas across Britain, according to Rightmove.
But the price tag there has jumped from £126,806 in September 2020.
Toxteth was part of a policy where homes were sold for just £1 in 2013.
The council launched Homes for a Pound to help regenerate the area, which had previously experienced riots, by selling around 6,000 empty homes.
Accrington in Lancashire, Retford in Nottinghamshire and Heywood in Greater Manchester closely follow Toxteth with a 19% increase in average asking prices.
In total, five of the top 10 hotspots are in the North West of England, a region where asking prices have risen by 8% on average since September 2020.
The average asking prices in September 2021 and the percentage increase for the top 10 hotspots:
1. Toxteth, Liverpool, Merseyside, £151,958, 20%
2. Accrington, Lancashire, £139,220, 19%
2. Retford, Nottinghamshire, £210,761, 19%
2. Heywood, Greater Manchester, £194,634, 19%
5. Brixham, Devon, £318,859, 18%
5. Crowborough, East Sussex, £501,537, 18%
5. Aberdare, Rhondda Cynon Taf, £165,322, 18%
8. Moortown, Leeds, West Yorkshire, £327,804, 17%
8. Penwortham, Preston, Lancashire, £251,478, 17%
10. Great Sankey, Warrington, Cheshire, £270,621, 16%
Since the start of last year, nearly three-quarters (71%) of areas across the country have hit record asking prices.
Across Britain, the average asking price stands at a record £338,462, up by 5.8% compared with September 2020.
Tim Bannister, Rightmove’s director of property data, said: “There’s been significant growth across so many areas of Great Britain over the past year, which is reflected in the new price hotspots, where six different regions appear in the top 10.
“The number of homes for sale is at a record low, and buyer demand remains high. This competition for properties is supporting price growth.”
Warren Matthews, an agent at James Kristian Estate Agents in Liverpool, added: “Due to the improvements in the area, places like Toxteth have grown in popularity, and we’re now seeing properties appeal to a wide range of buyers, from first-time, next time and investors.
“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.”
Watch: Average UK house price surges by 8.5% to hit record high in December