Prices boost for home owners

Home owners in Hartlepool enjoyed a late spring boost as house prices jumped by more than three per cent, according to new figures.

Land Registry data shows the average Hartlepool house price in April was £136,654 – a 3.4% increase on March – and representing an average rise in value of 10.6% over the last year.

Over the month, the picture was different to that across the North East, where prices increased by just 0.1%, and home values in Hartlepool were also above the 1.1% national average rise.

Experts say a shortage of properties coming on to the market was the primary reason behind climbing prices.

The average sale price of property in Hartlepool in April rose by £12,000 over the year.

Owners of detached houses saw the biggest rise in property prices in April. Values increased by 3.6%, to an average of £240,792 and, over the last year, prices rose by 13.3%.

The value of a semi-detached increased by 3.3% over the month monthly – up 10.6% annually – to an average of £139,570.

Terraced home prices were also up by 3.3% monthly – and 9.2% annually – to £98,199 on average.

The price of flats increased by 3% in April - up 6.2% annually – to an average of £71,087.

First-time buyers in Hartlepool spent an average of £115,000 on their property – £11,000 more than a year ago, and £29,000 more than in April 2017.

Buyers in the area paid 12% less than the average price in the North East – £155,000 - in April.

Nationally, the average price of a home rose to £281,000.