Winter warmer for Sunderland home owners

Home owners in Sunderland have had an early winter warmer – with a rise in house values, new figures show.
Winter warmer for home owners.Winter warmer for home owners.
Winter warmer for home owners.

Land Registry figures show prices in the area increased by 1.5% in October, to an average of £146,701 – representing an 8.9% increase over the last 12 months.

Over the month, the market was slightly down on that across the North East, where prices increased by 1.9%, but above the national market, where prices rose by 0.3%.

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Over the last year, the average sale price of property in Sunderland has increased by £12,000.

Average UK house prices increased by 12.6% in the year to October, to an average of £296,400, which was £33,000 higher than a year earlier.

Owners of detached houses saw the biggest rise in property prices in Sunderland in October.

Values increased by 1.8%, to an average of £274,624. Over the last year, prices have risen by 9.8%.

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The value of a semi-detached was up 1.5% monthly – and 9.1% annually – to an average of £152,256.

Prices paid for terraced homes increased by 1.3% over the month – and 8.9% annually – to an average of £119,851.

Flat values increased by 1.5% monthly – and 6.6% annually – to £88,215 on average.

First-time buyers in Sunderland spent an average of £128,000 on their property – £11,000 more than a year ago, and £26,000 more than in October 2017.

Buyers paid 12.9% less than the average price in the North East (£168,000) in October for a property in the city.