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Pre-Christmas boost for home owners

Home owners in Sunderland got a little pre-Christmas present from the housing market, new figures show.

By Katie Williams
Wednesday, 19th January 2022, 1:02 pm

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House prices rise
House prices rise

The latest Land Registry figures show house prices in the area increased by 0.3%, in November - contributing to the longer-term trend, which has seen property prices in the area grow by 12.6% annually – £15,000.

The average house price in November was £134,865.

Over the month, the picture was less good than that across the North East, where prices increased 1.8%, and the city underperformed compared to a national 1.2% rise.

Owners of detached houses saw the biggest improvement in property prices in Sunderland in November – they increased 0.9%, to an average of £255,928.

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That is an annual average of 17%.

The value of a semi-detached increased by 0.4% over the month – up 12.8% annually – to an average of £139,536.

Terraced home prices rose by 0.1% in November – up 11% annually – to an average of £108,831.

The prices paid for flats fell by 0.3% on the month – but were still up 9.8% annually – to an average of £83,853.

First-time buyers in Sunderland spent an average of £117,000 on their property – £13,000 more than a year ago, and £19,000 more than in November 2016.

Buyers in Sunderland paid 9.6% less than the average price in the North East – £149,000 - in November.

Average North East property prices are still below the national average of £271,000.

The most expensive properties in the North East were in North Tyneside – at £192,000 on average.