Early summer hit for home owners

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

By Katie Williams
Wednesday, 20th July 2022, 5:24 pm
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.

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.

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.