Autumn boost for Northumberland home owners

House prices in Northumbeland have increased by more than the average, new figures show.

By Katie Williams,
Thursday, 19th November 2020, 12:25 pm
House prices have risen in Northumberland
House prices have risen in Northumberland

The boost brought the average house price in the area to £165,246 in September – contributing to a longer-term trend which has seen property prices in the area grow by 5.8% annually.

Land Registry figures show prices in September increase by 2.4% on August.

The North East average was 2.8%, and the national rise was 1.7%.

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Over the last year, the average sale price of property in Northumberland rose by £9,100 – putting the area second among the North East’s 12 local authorities for annual growth.

Owners of detached houses saw the biggest improvement in property prices in Northumberland in September.

The price being paid increased by 3.1%, to £277,599 on average. Over the last year, prices have risen by 6.5%.

The price of a semi-detached home rose by 2% on the month – up 6.2% annually to an average of £156,485.

The price paid for a terraced home increased by 2.3% on August – up 5.6% annually to an average of £129,655.

The price paid for flats also increased by 1.9% over the month – up 2.6% annually to an average of £88,286.

First-time buyers in Northumberland spent an average of £​134,200 on their property – ​£6,900 more than a year ago, ​and ​£10,200 more than in September 2015.

The average price for a home on the North East in September was £136,262.

The most expensive properties in the North East were in Newcastle – £171,000 on average.