The Sunderland locations which have seen house prices rise and fall, according to Rightmove data
Emerging from the Covid pandemic and the cost of living crisis has inevitably had an impact on the housing market both nationally and here in Sunderland.
With the cost of living crisis well and truly starting to bite, the UK’s housing market has slowed down, with Rightmove, the UK's largest online real estate property portal, showing average house prices rising nationally by just £14 last month, the smallest ever increase from January to February.
In Sunderland, 2022 saw average house price sales fall by 2% to £159,903. 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 experience a decline, with some locations experiencing a rise 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.
1. SR1 postcode
Areas covered - Sunderland City Centre, East End and Hendon. Price increase or decrease - Prices were 11% up in 2022 compared to the previous year. Average price of houses sold in 2022 - £70,889. House price breakdown - The majority of sales in SR1 during the last year were flats, selling for an average price of £62,400. Semi-detached properties sold for an average of £57,500, with terraced properties fetching £105,500. Photograph: Google Maps Photo: Google Maps
2. SR2 postcode
Areas covered - Ashbrooke, Ryhope, Grangetown, Hillview and Thornhill. Price increase or decrease - Prices were 4% up in 2022 compared to the previous year. Average price of houses sold in 2022 - £166,742. House price breakdown - The majority of sales in SR2 during the last year were terraced properties, selling for an average price of £137,173. Semi-detached properties sold for an average of £164,824, with flats fetching £103,698. Photo: Google Maps Photo: Google Maps
3. SR4 postcode
Areas covered - Barnes, Chester Road, Deptford, Ford Estate, Grindon, Hastings Hill, Hylton Lane Estate, High Barnes, Pallion, Pennywell and South Hylton. Price increase or decrease - Prices were 3% up in 2022 compared to the previous year. Average price of houses sold in 2022 - £127,403. House price breakdown - The majority of sales in SR4 during the last year were terraced properties, selling for an average price of £107,271. Semi-detached properties sold for an average of £139,362, with detached properties fetching £206,638. Photograph: Google Maps Photo: Google Maps
4. 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% up in 2022 compared to the previous year. Average price of houses sold in 2022 - £166,938. House price breakdown - The majority of sales in DH4 during the last year were terraced properties, selling for an average price of £110,796. Semi-detached properties sold for an average of £143,509, with detached properties fetching £287,061. Photo: Craig Leng