Sunderland house prices on the rise

The Land Registry figures also show the the longer-term trend, which has seen property prices in the area achieve 13.4% annual growth – the best in the region.

The average house price on the city in February was £140,046 – two per cent up on January – and above both the regional trend, where prices increased by 1.2%, and the 0.5% rise for the UK as a whole.

The figures show that, over the last year, the average sale price of property in Sunderland rose by £17,000 – also the best annual growth in the region.

Owners of flats in the city saw the biggest improvement in property prices. Values increased by 2.5%, to an average of £86,621 and, annually, by 10.8%.

Detached home values rose by 2.3% monthly – up 17.4% annually – to an average of £265,370.

Owners of semi-detached homes saw prices rise by two per cent to an average of £144,641 - up 13.5% annually.

The value of a terraced home rose by 1.9% monthly – up 12.2% annually – to an average of £113,556.

The data shows first-time buyers in Sunderland spent an average of £122,000 on their property – £14,000 more than a year ago, and £25,000 more than in February 2017.

Buyers in the area paid 8.2% less than the average price in the North East (£153,000) in February.

Nationally the average price of a house reached £277,000 in February.