The region is home to the lowest new-build price growth – despite an increase of 16% between 2015 and 2020 – as well as being one of the most talked-about areas for buy-to-let investors.
New research by property developer StripeHomes found the average price for new-build houses in the North East is now £192,125 – up 16% from £166,067 in 2015.
Pockets of the region – including Hartlepool (21%), North Tyneside (22%) and South Tyneside (21%) – have seen higher increases in price than the regional average.
Meanwhile, new-build house prices in the East of England surged by 34% in the past five years, with the 2020 total at a staggering £373,829.
James Forrester, StripeHomes managing director, said: “When it comes to investing in bricks and mortar, the new-build sector remains one of the best in terms of a consistent return through buoyant house price growth.
“In the past five years, almost every area of the UK has seen new-build prices increase despite the impact of drawn-out political uncertainty caused by Brexit and multiple general elections.
“As a result, the sector remains popular amongst both new-build investors and developers, as well as residential homebuyers.”
The average price is now £316,668 – a figure which StripeHomes says proves new-builds are a solid investment choice for both homeowners and investors.