Northumberland house prices on the rise

House prices in Northumberland are continuing to rise – reaching around £180,000 in February, new figures show.

By Katie Williams
Wednesday, 13th April 2022, 2:01 pm
House prices on the rise.

The Land Registry figures also show the longer-term trend, which has seen property prices in the area achieve 7.6% annual growth.

The average house price on the area in February was £183,831 – 1.1% up on January – below the regional trend, where prices increased by 1.2%, but above the 0.5% rise for the UK as a whole.

The figures show that, over the last year, the average sale price of property in the area rose by £13,000.

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Owners of flats saw the biggest improvement in property prices in Northumberland in February.

Values increased by 1.3%, to an average of £93,325 – with prices rise by 2.6%. over the past year.

Detached house prices were up by 1.3% over the month - and 10.8% annually – to an average of £317,915.

The value of semi-detached homes rose by 1.2% monthly – up 7.4% annually – to an average of £173,181.

Terraced home prices increased by one per vent over the month – up 5.7% annually – to an average of £142,090.

The data shows first-time buyers in Northumberland spent an average of £148,500 on their property – £9,600 more than a year ago, and £27,400 more than in February 2017.

Buyers in the area paid more for properties in Northumberland than anywhere else in the North East where the average house price was £153,000 in February.

Nationally the average price of a house reached £277,000 in February.