Autumn house prices stall in Northumberland
Home owners in Northumberland saw house prices suffer an Autumn stall, according to new figures.
Land Registry figures show housed prices in the area dropped by 0.2% in October – but the longer-term trend has seen property values rise by 6.8% over the last year.
The figures show the average price in October was £177,636.
Over the month, the picture was still better than that across the North East, where prices decreased by 4.8% to an average of £147,719, and the area’s housing market also outperformed the 1.1% drop for the UK as a whole.
Over the last year, the average sale price of property in Northumberland rose by £11,000.
Owners of flats fared worst in Northumberland in October. Prices dropped by 1.1% in price over the month – to an average of £90,692. Over the last year, prices rose by 2.1%.
The value of a detached home rose by 0.5% monthly – up 9.5% annually – to an average of £305,862.
Semi-detached house prices fell by 0.6% monthly – up 6.3% annually – to an average of £167,417.
The value of a terraced house fell by 0.4% over the month – but up 5.4% annually – to an average of £137,711.
First-time buyers in Northumberland spent an average of £143,500 on their property – £8,300 more than a year ago, and £20,600 more than in October 2016.
Buyers paid 20.3% more than the average price in the North East for a property in Northumberland.
Across the North East, property prices are remain lower than those nationally, where the average is £268,000.