House prices boost for Hartlepool home owners

Data from the Land Registry show prices in the area increased by 0.9% – contributing to a longer-term trend, which has seen property values in the area grow by 12.7% over the last year.

The average Hartlepool house price in December was £138,252 – a rise of £16,000 over the year – and better than the housing market across the region, where prices decreased by 0.5%.

Prices in the area also outperformed the national market which saw a 0.4% drop in values.

Owners of flats saw the biggest rise in property prices in Hartlepool in December. Values increased by 1.1% to an average of £70,755.

Over the last year, prices rose by 10.2%.

Prices for a detached home increased by 0.9% monthly – up 12.4% annually – to an average of £241,278.

Semi-detached house prices were up 0.9% monthly – and 12.5% annually – to £141,223 on average.

Terraced home values also increased by 0.9% over the month – and up 13.5% annually – to an average of £100,277.

First-time buyers in Hartlepool spent an average of £117,000 on their property – £13,000 more than a year ago, and £24,000 more than in December 2017.

Buyers in the area paid 15.6% less than the average price in the North East (£164,000) in December.

Nationally house prices ended last year £26,000 higher than when 2022 started, although the annual pace of growth in property values is slowing.