North Tyneside house prices increased in March

House prices increased by 3.4% in North Tyneside in March, new figures show.
By Sonja Tutty, Data Reporter
Published 24th May 2023, 14:40 BST
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices increased by 3.4% in North Tyneside in March, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 11.4% over the last year – the highest in the North East.

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The average North Tyneside house price in March was £212,311, Land Registry figures show – a 3.4% increase on February.

Over the month, the picture was different to that across the North East, where prices decreased 1.6%, and North Tyneside was above the 1.2% drop for the UK as a whole.

Over the last year, the average sale price of property in North Tyneside rose by £22,000 – putting the area top among the North East’s 12 local authorities with price data for annual growth.

At the other end of the scale, properties in Sunderland gained 3.3% in value, giving an average price of £139,000.

First steps on the property ladder

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First-time buyers in North Tyneside spent an average of £180,000 on their property – £18,000 more than a year ago, and £44,000 more than in March 2018.

By comparison, former owner-occupiers paid £242,000 on average in March – 34.7% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in North Tyneside in March – they increased 4.8%, to £406,541 on average. Over the last year, prices rose by 14.4%.

Among other types of property:

Semi-detached:
Terraced:
Flats:

How do property prices in North Tyneside compare?

Buyers paid more for properties in North Tyneside than anywhere else in the North East in March. The average price paid would buy 1.6 homes in County Durham (£129,000), at the other end of the scale.

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The highest property prices across the UK were in E09000020.

Across the North East, property prices are low compared to those across the UK, where the average cost £285,000.

Factfile

Average property price in March

  • North Tyneside: £212,311
  • The North East:£156,912
  • UK: £285,009

Annual growth to March

  • North Tyneside: +11.4%
  • The North East: +4%
  • UK: +4.1%

Highest and lowest annual growth in the North East

  • North Tyneside: +11.4%
  • Sunderland: +3.3%