Autumn hit for Sunderland home owners

The average house price in the city in September fell by 0.2% to £115,482, – contributing to a longer-term trend which has seen property prices in the area fall by 1.3% anually.

The new Land Registry figures put the area 10th among the North East’s 12 local authorities for annual growth.

In the North East, prices in September were 2.8% up on August.

Nationally housed prices were up 1.7% in September.

Owners of semi-detached houses in the city fared worst in September – prices dropped by 0.4 to £119,534 on average​. Over the last year, prices dropped by 0.7%.

The price of detached homes did rise – by 0.4% on the month but down 0.6% annually to an average of £211,332.

Terraced house prices were down 0.2% on August – down 1.6% annually to an average of £94,209.

The prices being paid for flats also fell – down 0.3% on the month and down 4.5% annually to an average selling price of £73,421.

First-time buyers in Sunderland spent an average of £​100,700 on their property – ​£1,500 less than a year ago, ​and ​£6,500 more than in September 2015.

By comparison, former owner-occupiers paid £​129,900 on average for a new home in September​ – 29.0% more than first-time buyers.

The average price being paid for a home on the North East in September was £136,262.

The most expensive properties in the North East were in Newcastle – £171,000 on average.