South Tyneside house prices increased slightly in April

House prices increased slightly, by 0.2%, in South Tyneside in April, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 5.6% over the last year.

The average South Tyneside house price in April was £160,878, Land Registry figures show – a 0.2% increase on March.

Over the month, the picture was different to that across the North East, where prices increased 1.8%, and South 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 South Tyneside rose by £8,500 – putting the area ninth among the North East’s 12 local authorities with price data for annual growth.

The highest annual growth in the region was in Darlington, where property prices increased on average by 8.1%, to £162,000. At the other end of the scale, properties in Sunderland lost 0.4% of their value, giving an average price of £136,000.

First steps on the property ladder

First-time buyers in South Tyneside spent an average of £142,900 on their property – £7,100 more than a year ago, and £32,600 more than in April 2018.

By comparison, former owner-occupiers paid £179,200 on average in April – 25.5% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in South Tyneside in April – they increased 0.8%, to £307,508 on average. Over the last year, prices rose by 7.3%.

Among other types of property:

How do property prices in South Tyneside compare?

Buyers paid 0.6% more than the average price in the North East (£160,000) in April for a property in South Tyneside. Across the North East, property prices are low compared to those across the UK, where the average cost £286,000.

The most expensive properties in the North East were in North Tyneside – £204,000 on average, and 1.3 times the price as in South Tyneside. North Tyneside properties cost 1.6 times the price as homes in County Durham (£128,000 average), at the other end of the scale.

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

Factfile

Average property price in April

• South Tyneside: £160,878
• The North East:£159,900
• UK: £286,489

Annual growth to April

• South Tyneside: +5.6%
• The North East: +5.5%
• UK: +3.5%

Highest and lowest annual growth in the North East

• Darlington: +8.1%
• Sunderland: -0.4%