With the region still in the grips of a cost of living crisis and mortgage interest rates at a 15-year high, it's challenging time for people in the city to be buying and selling houses.
The market situation has inevitably had a negative affect on house prices in Sunderland. Across 2023 the overall average house price in the city was £164,646, down 4% on both the 2021 and 2022 averages.
Falling house prices can be a big concern for home owners as it may lead to a situation of negative equity, with mortgages taken out on a property being less than its current valuation.
However, not all parts of the city have experienced a decline, with some locations experiencing a rise in the average price of houses being sold.
Check out where in Sunderland and Washington has experienced a rise in average house price sales and where average prices have fallen according to Rightmove data.
Falling house prices can be a big concern for home owners as it may lead to a situation of negative equity, with mortgages taken out on a property being less than its current valuation.
5. DH4 postcode
Areas covered - Penshaw, Houghton-le-Spring, West Rainton, Bournmoor, New Herrington, Leamside, East Rainton and Middle Rainton.
Price increase or decrease - Prices were 2% down in 2023 compared to the previous year but 2% up on the 2021 peak of £170,753.
Average 2023 price of houses sold - £173,540. House price breakdown - The majority of sales in DH4 during the last year were terraced properties, selling for an average price of £106,651. Semi-detached properties sold for an average of £148,221, with detached properties fetching £294,969. Photo: Craig Leng
6. SR6 postcode
Areas covered - Cleadon, Fulwell, Monkwearmouth, North Haven, Roker, St Peter's Riverside, Seaburn, Seaburn Dene, South Bents and Whitburn.
Price increase or decrease - Prices were 4% down in 2023 compared to the previous year and 3% down on the 2021 peak of £248,734. Average 2023 price of houses sold - £241,093.
House price breakdown - The majority of sales in SR6 during the last year were semi-detached properties, selling for an average price of £258,463. Terraced properties sold for an average of £167,047, with flats fetching £162,449.. Photo: Google maps Photo: Google Maps
7. SR3 postcode
Areas covered - Doxford Park, Farringdon, Gilley Law, Herrington, Moorside, Plains Farm, Ryhope, Silksworth, Springwell Village, Thorney Close and Tunstall.
Price increase or decrease - Prices were 11% down in 2023 compared to the previous year and 7% down on the 2021 peak of £189,453. Average price of houses sold in 2023 - £176,357.
House price breakdown - The majority of sales in SR3 during the last year were semi-detached properties, selling for an average price of £166,736. Terraced properties sold for an average of £114,059, with detached properties fetching £305,298.. Photograph: Google Maps Photo: Google Maps
8. NE37 postcode
Areas covered - Albany, Blackfell, Usworth, Donwell and Concord in Washington. Price increase or decrease - Prices were 11% down in 2023 compared to the previous year and 7% down on the 2021 peak of £143,520. Average price of houses sold in 2023 - £110,511.
House price breakdown - The majority of sales in NE37 during the last year were terraced properties, selling for an average price of £108,746. Semi-detached properties sold for an average of £141,321, with flats fetching £45,102.. Photograph: Google Maps Photo: Google Maps