Prices boost for Northumberland home owners

Home owners in Northumberland have had a financial boost as house prices in the area rose, the latest figures show.
March house price riseMarch house price rise
March house price rise

Land Registry figures show prices increased by over two per cent in March – adding to the longer-term trend, which has seen property prices in the area grow by 14.2% over the year.

The average house price in the area in March was £177,536 – 2.4% up on February.

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In the North East housing market prices increased by three per cent and, nationally, there was an 1.8% rise.

Over the last year, the average sale price of property in Northumberland rose by £22,000.

Owners of detached houses saw the biggest improvement in property prices in Northumberland in March – increasing by 2.6% to an average of £299,341.

Over the last year, prices rose by 15.2%.

The price of a semi-detached rose by 2.1% monthly – up 13.5% annually to an average of £167,367.

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The value of a terraced home increased by 2.5% monthly – up 14.9% annually – to an average of £139,834.

Flat prices increased by 1.9% on the month to an average of £93,534 – up 10.1% annually.

First-time buyers in Northumberland spent an average of £144,000 on their property – £17,000 more than a year ago, and £24,000 more than in March 2016.

The figures show the average price of a home in the North East was £146,000 in March.

In the region, property prices remained low compared to those across the UK, where the average cost £256,000.