Sunderland house prices finish year on a high

The 1.5% rise in average prices in December added to the longer-term trend, which has seen property prices in the area achieve 13.2% annual growth – the highest in the region.

Land Registry figures show the average house price in the city in December was £137,419.

Over the month, that was better than that across the North East, where prices decreased by 1.5% – to an average of £147,000 - and above the average rise of 0.8% nationally.

Over the last year, the average sale price of property in Sunderland rose by £16,000.

Owners of detached houses saw the biggest improvement in property prices in December. They increased by 2.7%, to an average of £263,599 – a 19.1% value rise over the year.

Values for semi-detached homes rose by 1.3% monthly – up 13.1% annually – to an average of £141,605.

The value of a terraced home rose by 1.3% over the month – up 11.3% annually – to £110,769 on average

The average price paid for flats rose by 1.3% monthly – up 10.7% annually – to an average of £85,566.

First-time buyers in Sunderland spent an average of £119,000 on their property – £13,000 more than a year ago, and £21,000 more than in December 2016.

Buyers in the city paid 6.7% less than the average price in the North East for a property.

Nationally the average price of a home in December was £275,000.