8 Sep

Liverpool prices 'benefiting from Capital of Culture status'

Liverpool prices 'benefiting from Capital of Culture status'

Liverpool has seen its house prices grow faster than the rest of the north-west region since it was awarded the status of European Capital of Culture five years ago, a new study has shown.

Research by Halifax has revealed that the average house price in the city has grown by 76 per cent from £79,886 to £140,842 since the award was made in June 2003.

This compares with 69 per cent for the north-west region as a whole, while the next best performance of any of the other UK candidate cities for the title has been a 64 per cent rise in Newcastle-Gateshead.

Halifax chief economist Martin Ellis stated: "Prices have been boosted by the regeneration in Liverpool's infrastructure in preparation for this year's festivities."

According to Land Registry figures obtained by the BBC, the best performing location in the north-west region so far this year is Blackpool, with an average house price increase of 1.5 per cent.

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