Hartlepool house prices rose above average in June - here's how much they increased by

House prices increased more than average for the North East in Hartlepool in June, new figures show.

Monday, 19th August 2019, 13:32 pm
Updated Monday, 19th August 2019, 13:32 pm
Properties in Newcastle dropped 4.0% in value, giving an average price of £153,000.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 2.4% annual growth.

The average Hartlepool house price in June was £108,424, Land Registry figures show – a 2.6% increase on May.

Over the month, the picture was better than that across the North East, where prices increased 1.7% , and Hartlepool outperformed the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Hartlepool rose by £2,500

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Over the last year, the average sale price of property in Hartlepool rose by £2,500 – putting the area fifth among the North East’s 12 local authorities for annual growth.

The best annual growth in the region was in South Tyneside, where properties increased on average by 4.4%, to £135,000. At the other end of the scale, properties in Newcastle dropped 4.0% in value, giving an average price of £153,000.

Winners and Losers

Owners of semi-detached houses saw the biggest improvement in property prices in Hartlepool in June – they increased 2.7%, to £112,139 on average. Over the last year, prices rose by 3%.

Detached houses were up 2.4% monthly, 2.6% annually, costing an average of £185,135. Flats meanwhile were up 2.2% monthly but down 0.4% annually, costing £60,920 on average.

First steps on the property ladder

First-time buyers in Hartlepool spent an average of £ 91,600 on their property – £1,900 more than a year ago, and £4,900 more than in June 2014. By comparison, former owner-occupiers paid £ 128,300 on average in June – 40.0% more than first-time buyers.

How do property prices in Hartlepool compare?

Buyers paid 16.8% less than the average price in the North East (£ 130,000) in June for a property in Hartlepool. Across the North East, property prices are low compared to those across the UK, where the average cost £230,000.

The most expensive properties in the North East were in North Tyneside – £164,000 on average, and 1.5 times as much as in Hartlepool. North Tyneside properties cost 1.6 times as much as homes in County Durham (£105,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.3 million could buy 14 properties in Burnley (average £89,000).