Autumn house price boost for home owners

House prices riseHouse prices rise
House prices rise
Home owners in Hartlepool got an Autumn boost with a rise in average house prices, according to new figures.

Land Registry figures show housed prices in the area rose by 3.5% in October – contributing to a longer-term trend, which has seen property values achieve a 23.4% annual growth rate.

The figures show the average price in October was £134,659.

Over the month, the picture was better than that across the North East, where prices decreased by 4.8% to an average of £147,719, and the area’s housing market also outperformed the 1.1% drop for the UK as a whole.

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Over the last year, the average sale price of property in Hartlepool rose by £26,000.

Owners of detached houses saw the biggest improvement in property prices in Hartlepool in October. They increased 3.9%, to £236,205 on average – 25.9% over the year.

The price of a semi-detached rose by 3.3% monthly – up 22.4% annually – to an average of £137,683.

The value of a terraced home rose by 3.4% on the month – up 22.9% annually – to an average of £96,869.

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Flat prices rose by 2.5% over the month – up 18.6% annually – to an average of £71,050.

First-time buyers in Hartlepool spent an average of £113,000 on their property – £21,000 more than a year ago, and £24,000 more than in October 2016.

Buyers paid 8.8% less than the average price in the North East for a property in Hartlepool.

Across the North East, property prices are remain lower than those nationally, where the average is £268,000.