How house prices in Hartlepool compare to other parts of the north east

House prices in Hartlepool dropped more than average for the North East in October, according to new figures.

Monday, 23rd December 2019, 3:51 pm
Updated Tuesday, 24th December 2019, 2:49 pm
Home owners in Hartlepool saw their values drop in the last year
Home owners in Hartlepool saw their values drop in the last year

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 4.1% annual decline – the worst in the North East.

The average Hartlepool house price in October was £106,381, Land Registry figures show – a 3.4% decrease on September.

Over the month, the picture was worse than that across the North East, where prices decreased 2.3% , and Hartlepool underperformed compared to the 0.7% drop for the UK as a whole.

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Over the last year, the average sale price of property in Hartlepool remained level – putting the area bottom 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 5.4%, to £141,000.

Owners of flats fared worst in Hartlepool in October – they dropped 4.5% in price, to £59,407 on average . Over the last year, prices dropped by 6.8%.

The prices paid for detached homes were down 3.6% monthly; down 4.2% annually; £181,902 average and semi-detached prices fell by 3.1% monthly; down 3.6% annually; £109,809 average.

The price of terraced homes fell 3.5% monthly; down 4.3% annually; £76,909 average.

First-time buyers in Hartlepool spent an average of £ 89,900 on their property – £4,000 less than a year ago, and £8,100 more than in October 2014.

By comparison, former owner-occupiers paid £ 125,800 on average in October – 40.0% more than first-time buyers.

Buyers paid less for properties in Hartlepool than anywhere else in the North East in October.

The average price paid in Newcastle (£168,000), at the other end of the scale, would buy 1.6 homes in Hartlepool.

The highest property prices across the UK were in Kensington and Chelsea, where the average October sale price of £1.2 million could buy 14 properties in Burnley (average £87,000).

Across the North East, property prices are low compared to those across the UK, where the average cost £233,000.