Prices hit for home owners

Land Registry data shows the average house price in the area in April was £180,976 – a 1.5% decrease on March – but still representing an average rise in value of 5.6% over the last year.

Over the month, the picture was down on that across the North East, where prices increased by 0.1%, and home values in the area lagged well behind the 1.1% national average rise.

Experts say a shortage of properties coming on to the market was the primary reason behind climbing prices nationally

The average sale price of property in the county in April is still £9,600 up over the year.

Owners of flats saw the biggest fall in property prices Northumberland in April. They dropped by 2.1% to an average of £90,819 but, over the last year, prices were still up by 0.3%.

Detached home prices fell by 1.3% monthly – but were up 8.2% annually – to an average of £312,789.

The value of a semi-detached fell by 1.6% monthly – but remained up 5.9% annually – to £171,243 on average.

Terraced house prices fall by 1.5% over the month – but up 3.8% annually – to an average of £139,740.

First-time buyers in Northumberland spent an average of £146,500 on their property – £7,000 more than a year ago, and £24,000 more than in April 2017.

Buyers in the area paid 16.6% more than the average price in the North East – £155,000 - in April.

Nationally, the average price of a home rose to £281,000.