Hartlepool house prices rise faster than anywhere in North East in latest figures

New Land Registry figures show the average house price in the area in August was £122,626 – up 2.7% on July – and 15.7% up on last year.

Over the month, the area outperformed the rest of the North East, where prices increased by 2.4% although nationally there was a 2.9% rise.

Over the last year, the average sale price of property in Hartlepool rose by £17,000 – putting the area second among the North East’s 13 local authorities for annual growth.

Owners of detached houses saw the biggest improvement in property prices in August. They increased by 3.4% to an average of £214,490 – an annual price increase of 18.3%.

The value of a semi-detached rose by 3% monthly – up 15% annually – to an average of £125,812.

Terraced house prices increased by 2.1% monthly – up 14.8% annually – to an average of £88,014.

The price of flats increased by 2.2% in August – up 11.5% annually to average £65,683.

First-time buyers in Hartlepool spent an average of £103,000 on their property – £13,000 more than a year ago and £12,000 more than in August 2016.

Buyers paid 17.7% less than the average price in the North East – £149,000 - in August for a property but regional property prices remain low compared to those across the rest of the UK, where the average cost is £264,000.

The most expensive properties in the North East were in Northumberland – at £185,000 on average.