Prices boost for home owners
Land Registry data shows the average house price in the city in April was £141,138 – a 0.3% increase on March – and representing an average rise in value of 12.1% over the last year.
Over the month, the picture was slightly up on that across the North East, where prices increased by just 0.1%, but home values in Sunderland lagged behind the 1.1% national average rise.
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Hide AdExperts say a shortage of properties coming on to the market was the primary reason behind climbing prices.
The average sale price of property in Sunderland in April rose by £15,000 over the year.
The owners of detached houses saw the biggest rise in property prices in Sunderland in April. Values increased by 0.5%, to an average of £266,489 – an annual increase of 15.2%.
The value of a semi-detached increased by 0.3% over the month – and 12.9% annually – to an average of £146,569.
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Hide AdTerraced house prices also increased by 0.3% month-on-month – and 10.8% annually – to an average of £114,237.
The price of flats fell by 0.1% monthly – but was up nine per cent annually – to an average of £86,483.
First-time buyers in Sunderland spent an average of £123,000 on their property – £13,000 more than a year ago, and £25,000 more than in April 2017.
Buyers in the area paid 9.1% less than the average price in the North East – £155,000 - in April.
Nationally, the average price of a home rose to £281,000.