Autumn boost for Northumberland home owners

Land Registry figures show prices increased by 3.1% month on month – to an average of £203,416 – and contributing to the longer-term trend, which has seen property prices in the area grow by 15.2% over the last year.

Over the month, the picture was different to that across the North East, where prices increased by 0.3%, and above the national trend, where prices did not change.

Over the last year, the average sale price of property in Northumberland has risen by £27,000 – as an imbalance between supply and demand for homes saw house prices climb nationally.

Owners of semi-detached houses saw the biggest rise in property prices in Northumberland in September.

They increased by 3.2%, to £193,009 on average and an annual rise of 15.3%.

Detached home values were up by 3.1% monthly – and 16.6% annually – to an average of £348,147.

The value of terraced homes increased by 3.1% over the month monthly – up 14.7% annually – an average of £158,659.

The prices paid for flats increased by 2.3% monthly – up 9.8% annually – to £101,047 on average.

First-time buyers in Northumberland spent an average of £165,000 on their property – £21,000 more than a year ago, and £38,000 more than in September 2017.

Buyers in Northumberland paid 24.2% more than the average price in the North East (£164,000) in September.

Nationally, the average home cost £295,000.