Alnwick office of Bradley Hall estate agents values £328m of property in 2022

The figures from property expert Bradley Hall include both commercial and residential valuations in Northumberland, with the average valuation over £1.6m.

Although across the UK, residential property saw prices rise compared to 2021, and commercial values decreased by 13%, which makes the figures from Bradley Hall’s Alnwick office even more impressive.

Angus Todd, director at Bradley Hall Alnwick, said: “There is undoubtedly increasing pressure on most people’s finances at the current time and people are having to think hard about how they spend their money.

“But what we’re seeing is a healthy market in Northumberland, for both residential and commercial property. People are seeing Northumberland as a great place to invest and there is a lot of confidence in the market.

“I think it’s really encouraging to see both commercial and residential estates performing so well.”

Bradley Hall is a full-service agency, offering sales and rental support for all types of residential and commercial property from its office on Bondgate Without.

“People know they can trust us, and this is reflected in the fantastic results we saw in 2022,” added Angus.

"Looking forward, 2023 is shaping up to be an exciting year with significant sales completing within the first month, a host of excellent properties being introduced to market, and the launch of new developments on the horizon.

“We hope to continue the growth of our specialist services across Northumberland over the coming 12 months, including our expanding property management portfolio as well building in the success of our residential and commercial agency.”

Latest figures show that house prices increased by 1.2% in Northumberland in October.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 15.6% over the last year.

The average Northumberland house price in October was £204,558, Land Registry figures show – a 1.2% increase on September.

Over the month, the picture was different to that across the North East, where prices increased 1.9%, but Northumberland was above the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in Northumberland rose by £28,000 – putting the area second among the North East’s 12 local authorities with price data for annual growth.