Autumn boost for Sunderland home owners

Land Registry figures show prices increased by 1.5% month on month – to an average of £144,318 – and contributing to the longer-term trend, which has seen property prices in the area grow by 8.7% over the last year.

Over the month, the picture was different to that across the North East, where prices increased by 0.3%, and above the national trend, where prices did not change.

Over the last year, the average sale price of property in Sunderland has risen by £12,000 – as an imbalance between supply and demand for homes saw house prices climb nationally.

Owners of semi-detached houses in Sunderland saw the biggest rise in property prices in September. They increased by 1.6%, to £149,887 on average.

Over the last year, prices rose by 9.1%.

The value of a detached home increased by 1.4% in September – up 10.2% annually – to an average of £269,124.

Terraced home prices increased by 1.5% monthly – up 8.7% annually – to £118,014 on average.

The prices paid for flats increased by 0.9% over the month – a 5.2% annual rise – to an average of £86,780.

First-time buyers in Sunderland spent an average of £125,600 on their property – £9,900 more than a year ago, and £24,300 more than in September 2017.

Buyers in Sunderland paid 11.9% less than the average price in the North East (£164,000) in September.

Nationally, the average home cost £295,000.