Summer boost for Hartlepool home owners
Home owners in Hartlepool got an early summer boost in May as the value of their houses increased.
Average prices in the area rose by 4.1%, according to Land Registry figures – contributing to the longer-term trend, which has seen property values achieve 22.3% annual growth.
The average house price in the area in May was £128,266 – with values rising by an average of £23,000 over the last year.
The figures show that owners of detached houses saw the biggest improvement in property prices in Hartlepool in May. They increased by 4.5%, to an average of £222,087 - 23.2% up over the last year.
The value of a semi-detached rose by 3.8% over the month – up 21.1% annually – to an average of £130,995.
Terraced home prices were up 4% monthly – and 23.1% annually – to an average of £93,033.
The average price of flats was £69,361 – a monthly rise of 4.4% and up 18.1% annually.
First-time buyers in Hartlepool spent an average of £108,000 on their property – £20,0000 more than in May 2016.
Buyers paid 10.4% less than the average price in the North East (£143,000) in May for a property in Hartlepool.
Across the region, average property prices are low compared to those across the UK, where the average cost is now £255,000.
The most expensive properties in the North East were in North Tyneside – £177,000 on average.
The highest property prices in the UK were in Kensington and Chelsea, where the average May sale price was £1.2m.