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.
9. SR5 postcode
Areas covered - Carley Hill, Castletown, Downhill, Hylton Castle, Hylton Red House, Marley Pots, Sheepfolds, Southwick, Town End Farm and Witherwack.
Price increase or decrease - Prices were 3% down in 2023 compared to the previous year and 8% down on the 2021 peak of £124,172.
Average price of houses sold in 2023 - £113,974.
House price breakdown - The majority of sales in SR5 during the last year were semi-detached properties, selling for an average price of £128,242. Terraced properties sold for an average of £98,204, with flats fetching £73,022. Photograph: Google Maps Photo: Google Maps
10. NE38 postcode
Areas covered - Columbia, Barmston, Harraton, Washington Village, Biddick, Oxclose, Lambton, Ayton and Teal Farm in Washington.
Price increase or decrease - Prices were 10% up in 2023 compared to the previous year and 2% up on the 2021 peak of £192,430.
Average price of houses sold in 2023 - £195,844.
House price breakdown - The majority of sales in NE38 during the last year were terraced properties, selling for an average price of £132,599. Semi-detached properties sold for an average of £172,576, with detached properties fetching £365,243. Photograph: Google Maps Photo: Google Maps