North Tyneside house prices increased in October

General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices increased by 1.1% in North Tyneside in October, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 6% over the last year.

The average North Tyneside house price in October was £215,482, Land Registry figures show – a 1.1% increase on September.

Over the month, the picture was different to that across the North East, where prices remained static, and North Tyneside was above the 0.7% drop for the UK as a whole.

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

The highest annual growth in the region was in South Tyneside, where property prices increased on average by 12.2%, to £172,000. At the other end of the scale, properties in Middlesbrough lost 3.3% of their value, giving an average price of £141,000.

First steps on the property ladder

First-time buyers in North Tyneside spent an average of £182,300 on their property – £9,800 more than a year ago, and £43,300 more than in October 2018.

By comparison, former owner-occupiers paid £246,500 on average in October – 35.2% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in North Tyneside in October – they increased 1.9%, to £414,769 on average. Over the last year, prices rose by 10.4%.

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 October. The average price paid would buy 1.7 homes in County Durham (£128,000), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, at £1.4 million.

Across the North East, property prices are low compared to those across the UK, where the average cost is £288,000.

Factfile

Average property price in October

North Tyneside: £215,482
The North East:£161,237
UK: £287,782

Annual change to October

North Tyneside: +6%
The North East: +0.2%
UK: -1.2%

Highest and lowest annual growth in the North East

South Tyneside: +12.2%
Middlesbrough: -3.3%