Early summer hit for home owners

Homeowners in Hartlepool took an early summer hit as house prices fell, according to new figures.
House prices fall.House prices fall.
House prices fall.

Land Registry data shows house values dropped by an average of 4.2% in May – but does not reverse the longer-term trend, which has seen property prices in the area grow by 3.3% over the last year

The average house price in Hartlepool in May was £129,071 – 4.2% down on April.

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That was compared to a 0.1% decrease in prices regionally and well below the 1.2% average national market rise.

Over the last year, the average sale price of property in the town rose by £4,100.

Owners of flats saw the biggest fall in property prices Hartlepool in May. Values dropped by 4.8% to an average of £66,809. Over the last year, prices have dropped by 1.2%.

Detached home values were down 4.6% monthly – but up 4.7% annually – to an average of £225,340.

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Prices paid for a semi-detached were down 4.3% over month – but up 3.1% annually – to an average of £131,675.

Terraced house prices fell by 3.8% over the month – but remained up 2.9% annually – at an average of £93,572.

First-time buyers in Hartlepool spent an average of £108,900 on their property – £3,300 more than a year ago, and £18,200 more than in May 2017.

Buyers paid 16% less than the average price in the North East (£154,000) in May for a property in Hartlepool.

Nationally, the average cost of a house is now £283,000.