Summer hit for Sunderland home owners

Home owners in Sunderland took a summer house price hit, according to new figures.

Wednesday, 15th September 2021, 1:10 pm
House prices fall

Land Registry figures show house prices in the area fell by 2.6% in July - but the longer-term trend has seen prices achieve 5.9% growth over the last year.

The average house price in the city in July was £127,049.

Across the North East, prices in July decreased by 3.5% and 3.7% nationally.

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Over the last year, the average sale price of property in Sunderland rose by £7,100.

Owners of detached houses fared worst in Sunderland in July. Prices dropped by 2.7% to an average of £80,796 but, over the last year, prices rose by 7.3%.

Prices being paid for semi-detached homes fell by 2.5% over the month – but up 5.1% annually – to an average of £130,550.

The value of flats in July was down by 1.9% on the month but up 4.4% annually to an average of £80,796.

The figures show first-time buyers in Sunderland spent an average of £110,700 on their property in July.

That is £5,900 more than a year ago, and £11,300 more than in July 2016.

Buyers paid 12.3% less than the average price in the North East – £145,000 - in July for a property in the city.

Across the North East, property prices remain low compared to the rest of the UK, where the average cost is £256,000.

The most expensive properties in the North East were in Northumberland – where the average price for a house in July was £180,000.