Hartlepool house prices take February hit

House prices in Hartlepool took a hit in February

The 0.4% drop in average prices compared to January does not reverse the longer-term trend, which has seen property values in the area grow by 5.6% over the year.

Land Registry figures show the average house price in Hartlepool in February was £115,548.

Over the month, the picture was similar to that across the North East, where prices decreased 1.6%.

Over the last year, the average sale price of property in the area rose by £6,100.

Owners of detached houses in the area fared worst in February. Prices dropped by 0.6% to an average of £197,852 but over the last year, prices rose by 5.9%.

The price of semi-detached homes fell by 0.3% over the month – up 5.6% annually to an average of £118,977.

Terraced property values fell by 0.4% monthly – bit were up 5.7% annually – to an average of £83,627.

The value of flats rose by 0.2% on the month – up 2.2% annually to an average of £62,776.

First-time buyers in Hartlepool spent an average of £97,600 on their property – £5,100 more than a year ago, and £9,900 more than in January 2016.

Buyers paid 16.6% less than the average price in the North East – £138,000 - in February for a property in Hartlepool.

Across the region, property prices remained low compared to those across the UK, where the average cost £250,000.

The most expensive properties in the North East were in North Tyneside – £176,000 on average,