Modest summer boost for Hartlepool home owners

New figures from the Land Registry show prices in the area increased by 0.3% in July – adding to the longer-term trend, which has seen property values achieve an annual growth rate of 10.5%.

The figures show the average price paid for a house in the area in July was £139,176.

Over the month, the 0.3% rise was less than across the North East, where prices increased by 3.7%, and below the two per cent rise for the market nationally.

Over the last year, the average sale price of property in Sunderland has risen by £13,000.

Owners of terraced houses saw the biggest improvement in property prices in Hartlepool in July. Values increased 0.5% over the month, to an average of £101,061. Over the last year, prices rose by 10%.

The value of a detached home stayed the same over the month – but up 11.6% annually – to an average of £241,676.

Semi-detached home prices rose by 0.4% monthly to an average of £152,475 – a 10.6% annual increase.

The value of flats was up by 0.2% monthly – and up 5.7% annually to £71,759 on average.

First-time buyers in Hartlepool spent an average of £118,000 on their property – £11,000 more than a year ago, and £25,000 more than in July 2017.

Buyers paid 14.7% less than the average price in the North East – £163,000 – in July for a property in Hartlepool.