Most expensive and cheapest place to buy a home in Northumberland is revealed
Figures out this week reveal Ponteland West was the most expensive place in Northumberland to buy a house last year.
This was followed by Ponteland South with Heddon (£490,000) and Ponteland North (£385,995).
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By contrast, the cheapest parts of Northumberland to purchase property were Hirst, which had a median house price of £64,500, Isabella (£77,250) and Ashington Central (£78,000).
The median – the middle number in a series – is used to ensure the figures are not skewed by extreme highs or lows.
Meanwhile, the number of homes sold in Northumberland rose from 4,618 in 2020 to 4,914 last year.
Of sales last year, 4% (183) were in Alnwick – making it the busiest area for buyers.
At the other end of the scale, Cowpen saw just 31 properties sold in 2021, earning it the title of quietest area of Northumberland's property market.
The Centre for Economics and Business Research said that following a period of significant growth during the pandemic, it expects house prices to experience downward pressure over the next year, as a result of sharp rises in mortgage rates.
Karl Thompson, an economist at the think tank, said the strongest price contractions are expected outside of London and the South East, causing greater regional price disparities.
The number of residential property sales in England increased by 21% to 821,407 between the end of 2020 and the end of last year.
Grainne Gilmore, head of research at Zoopla, said property values varied widely in large part because of the differing housing stock between areas – some neighbourhoods will have a higher number of five-bedroom detached homes, while others will be home to more flats and smaller properties.
The ONS figures also reveal the trendiest area – the one which saw the fastest growth in sales – in Northumberland.
Of the four wards with at least 100 properties sold, Ponteland North saw 15% more properties sold in 2021 than in 2020, followed by Kitty Brewster (8%) and Alnwick (-5%).