Autumn boost for Northumberland house prices
Home owners in Northumberland got a financial boost in August as average house prices jumped by over two per cent.
New Land Registry figures show the average house price in the area in August was £184,926 – up 2.2% on July – and 15.1% up on last year.
Over the month, the area lagged behind the rest of the North East, where prices increased by 2.4%, and nationally there was a 2.9% rise.
Over the last year, the average sale price of property in Northumberland rose by £24,000 – putting the area fourth among the North East’s 13 local authorities for annual growth.
Owners of detached houses in Northumberland were the biggest winners in August. Prices increased by 2.8%, to an average of £315,915. Over the last year, prices rose by 17.8%.
The price of a semi-detached increased by 2.1% monthly – and up 14.4% annually – to an average of £174,645.
Terraced home values increased by 1.8% over the month monthly – and up 14.1% annually to an average of £143,967.
The price of flats increased by one per cent – up 9.8% annually to an average of £95,526.
First-time buyers in Northumberland spent an average of £150,000 on their property – £19,000 more than a year ago, and £24,000 more than in August 2016.
Buyers, on average, paid more for properties in Northumberland than anywhere else in the North East in August.
The average price in the North East was £149,000 in August but regional property prices remain low compared to those across the rest of the UK, where the average cost is £264,000.