PROPERTY prices in Hartlepool are on the rise but it isn’t stopping people from buying new homes as the number of sales also increased in the last year.
A report released yesterday revealed that Hartlepool’s average property price is up by seven per cent in the last 12 months to £130,797.
But the number of sales transactions has also increased, with 13 per cent more in January this year than January 2013.
The report, carried out by estate agent Manners & Harrison, also showed an increase in property viewings over the last year and mortgage applications.
Sharon Richardson, branch partner at Manners & Harrison, said: “The property market in Hartlepool is hotting in January with property prices up seven per cent annually to £130,797, the equivalent of £9,114, the fastest rate of growth in over two years.
“These price rises are being driven by an especially high level of demand.
“New buyer registrations are up by 16 per cent annually, increasing at eight times the rate of new property supply, which only grew by two per cent annually.
“Sales transactions are up 13 per cent annually and five per cent on month, which is a testament to the buoyancy and strength of this regional market and a continued appetite for home ownership.”
Ms Richardson believes the economy will continue to grow in Hartlepool and pointed to the launch of the ambitious Hartlepool Vision plans.
She added: “Hartlepool is a bustling town with a range of impressive marina developments.
“The town is set for future economic growth and further demand for homes - Hartlepool Borough Council has recently invited private companies to develop areas including the Headland, Church Street and Seaton Carew, which will create around 2,000 jobs.
“New leisure and retail facilities set to be built will further increase the town’s attractiveness as a place to live.”