Spring boost for Sunderland house prices

Home owners in Sunderland got a Spring price boost in March, new figures show.

By Katie Williams
Thursday, 19th May 2022, 1:34 pm

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House prices rise again.
House prices rise again.

The 1.7% rise in property values adds to the longer-term trend which has seen prices in the area achieve 14.4% annual growth – the largest in the North East.

New Land Registry figures show the average house price in Sunderland in March was £142,041 – outperforming the North East market, where prices increased 1.1%, and the 0.3% rise nationally.

The figures show that, over the last year, the average sale price of property in Sunderland rose by £18,800.

Owners of detached houses saw the biggest improvement in property prices in Sunderland in March. They increased by 2.2%, to an average of £270,799 – an annual rise of 18.9%.

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The price of a semi-detached increased by 1.8% in March - up 14.7% annually – to an average of £147,017.

Terraced house prices were up by 1.4% over the month – up 12.8% annually – to an average of £114,709.

The prices paid for flats increased by 1.5% monthly – up 11.6% annually to £87,440 on average.

First-time buyers in Sunderland spent an average of £123,000 on their property – £15,000 more than a year ago, and £28,000 more than in March 2017.

The figures also show buyers in Sunderland paid 8.3% less than the average price in the North East – £155,000 - in March.

North East, property prices remain lower than the national average.

The average price of a house in the UK rose to £278,000 in March.