North Tyneside house prices increased slightly in July

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 July, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 4.2% over the last year.

The average North Tyneside house price in July was £207,134, Land Registry figures show – a 0.3% increase on June.

Over the month, the picture was similar to that across the North East, where prices increased 0.5%, and North Tyneside was lower than the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in North Tyneside rose by £8,400 – putting the area fifth among the North East’s 12 local authorities with price data for annual growth.

The highest annual growth in the region was in Hartlepool, where property prices increased on average by 9.4%, to £142,000. At the other end of the scale, properties in Darlington gained 0.7% in value, giving an average price of £159,000.

First steps on the property ladder

First-time buyers in North Tyneside spent an average of £175,400 on their property – £6,500 more than a year ago, and £39,100 more than in July 2018.

By comparison, former owner-occupiers paid £236,700 on average in July – 35% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in North Tyneside in July – they increased 0.6%, to £196,530 on average. Over the last year, prices rose by 3.9%.

Among other types of property:

Detached: up 0.5% monthly; up 7.4% annually; £393,909 average
Semi-detached: up 0.3% monthly; up 3.9% annually; £227,572 average
Flats: down 0.1% monthly; up 2.7% annually; £117,091 average

How do property prices in North Tyneside compare?

Buyers paid more for properties in North Tyneside than anywhere else in the North East in July. The average price paid would buy 1.6 homes in County Durham (£129,000), 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 £290,000.

Factfile

Average property price in July

North Tyneside: £207,134
The North East:£163,480
UK: £289,824

Annual growth to July

North Tyneside: +4.2%
The North East: +2.7%
UK: +0.6%

Highest and lowest annual growth in the North East

Hartlepool: +9.4%
Darlington: +0.7%