North Tyneside house prices increased slightly in December

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

House prices increased slightly, by 0.3%, in North Tyneside in December, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 3.2% over the last year.

The average North Tyneside house price in December was £209,692, Land Registry figures show – a 0.3% increase on November.

Over the month, the picture was different to that across the North East, where prices decreased 1.2%, and North Tyneside was above the 0.1% rise for the UK as a whole.

Over the last year, the average sale price of property in North Tyneside rose by £6,500 – putting the area fourth among the North East’s 12 local authorities with price data for annual growth.

The highest annual growth in the region was in Newcastle, where property prices increased on average by 4.6%, to £200,000. At the other end of the scale, properties in Hartlepool lost 7.8% of their value, giving an average price of £124,000.

First steps on the property ladder

First-time buyers in North Tyneside spent an average of £177,500 on their property – £4,800 more than a year ago, and £37,400 more than in December 2018.

By comparison, former owner-occupiers paid £239,600 on average in December – 35% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in North Tyneside in December – they increased 1.2%, to £404,056 on average. Over the last year, prices rose by 7.4%.

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 December. The average price paid would buy 1.7 homes in Hartlepool (£124,000), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

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

Factfile

Average property price in December

North Tyneside: £209,692
The North East:£157,557
UK: £284,691

Annual change to December

North Tyneside: +3.2%
The North East: -0.8%
UK: -1.4%

Highest and lowest annual growth in the North East

Newcastle: +4.6%
Hartlepool: -7.8%