Northumberland house prices rose above average in June - here's how much they increased by

House prices increased more than average for the North East in Northumberland in June, new figures show.

Monday, 19th August 2019, 2:31 pm
Updated Monday, 19th August 2019, 2:31 pm
The average Northumberland house price in June was £153,594

But the boost does not reverse the longer-term trend, which has seen property prices in the area suffer a 1.3% annual decline.

The average Northumberland house price in June was £153,594, Land Registry figures show – a 4.4% increase on May.

Over the month, the picture was better than that across the North East, where prices increased 1.7% , and Northumberland outperformed the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Northumberland remained level – putting the area eighth among the North East’s 12 local authorities for annual growth.

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Over the last year, the average sale price of property in Northumberland remained level – putting the area eighth among the North East’s 12 local authorities for annual growth.

The best annual growth in the region was in South Tyneside, where properties increased on average by 4.4%, to £135,000. At the other end of the scale, properties in Newcastle dropped 4.0% in value, giving an average price of £153,000.

Winners and Losers

Owners of terraced houses saw the biggest improvement in property prices in Northumberland in June – they increased 4.7%, to £120,590 on average– but over the last year, prices dropped by 1.3%.

Detached houses were up 4.2% monthly and down 1.0% annually, costing £256,090 on average. Similarly, flats were up 4.2% monthly but down 3.5% annually, costing an average of £145,557. Semi-detached houses were up 4.3% monthly but down 0.9% annually, priced at an average of £145,557.

First steps on the property ladder

First-time buyers in Northumberland spent an average of £ 125,100 on their property – £2,100 less than a year ago, and £9,600 more than in June 2014.

By comparison, former owner-occupiers paid £ 176,200 on average in June – 40.8% more than first-time buyers.

How do property prices in Northumberland compare?

Buyers paid 17.8% more than the average price in the North East (£ 130,000) in June for a property in Northumberland. Across the North East, property prices are low compared to those across the UK, where the average cost £230,000.

The most expensive properties in the North East were in North Tyneside – £164,000 on average, and 7% in Northumberland. North Tyneside properties cost 1.6 times as much as homes in County Durham (£105,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.3 million could buy 14 properties in Burnley (average £89,000).