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

Home owners in Hartlepool got a financial boost in August as average house prices jumped by nearly three per cent.

Wednesday, 20th October 2021, 3:37 pm
Updated Wednesday, 20th October 2021, 5:29 pm

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.

Sign up to our daily newsletter

The i newsletter cut through the noise

House prices rise

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.