North Tyneside house prices increased slightly in September
House prices increased slightly, by 0.4%, in North Tyneside in September, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 5.9% over the last year.
The average North Tyneside house price in September was £215,300, Land Registry figures show – a 0.4% increase on August.
Over the month, the picture was different to that across the North East, where prices decreased 2%, and North Tyneside was above the 0.5% 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 9.8%, to £170,000. At the other end of the scale, properties in Middlesbrough lost 3.8% of their value, giving an average price of £140,000.
First steps on the property ladder
First-time buyers in North Tyneside spent an average of £182,200 on their property – £9,700 more than a year ago, and £44,500 more than in September 2018.
By comparison, former owner-occupiers paid £246,300 on average in September – 35.2% more than first-time buyers.
Owners of detached houses saw the biggest rise in property prices in North Tyneside in September – they increased 1.4%, to £415,835 on average. Over the last year, prices rose by 11%.
Among other types of property:
How do property prices in North Tyneside compare?
Buyers paid more for properties in North Tyneside than anywhere else in the North East in September. The average price paid would buy 1.7 homes in County Durham (£130,000), 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 £291,000.
Average property price in September
- North Tyneside: £215,300
- The North East:£163,368
- UK: £291,385
Annual change to September
- North Tyneside: +5.9%
- The North East: +1.6%
- UK: -0.1%
Highest and lowest annual growth in the North East
- South Tyneside: +9.8%
- Middlesbrough: -3.8%