Pre-Christmas house prices stall

Home owners in Hartlepool saw pre-Christmas stall in the housing market, new figures show.

By Katie Williams
Wednesday, 19th January 2022, 1:00 pm
House prices stall
House prices stall

The latest Land Registry figures show house prices in the area actually fell by 0.1%, in November - but this was more than offset by the longer-term trend, which has seen property prices in the area grow by 16.7% annually – £19,000.

The average house price in November was £129,920.

Over the month, the picture was less good than that across the North East, where prices increased 1.8%, and the area also underperformed compared to a national 1.2% rise.

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Owners of flats fared worst in Hartlepool in November. Values dropped by 0.4% to an average of £68,463 - but, over the last year, prices have risen by 12.2%.

The value of a detached property rose by 0.3% over the month – up 20.3% annually – to an average of £229,902.

Semi-detached home prices fell by 0.1% over the monthly – but up 16.1% annually – to an average of £132,956.

Prices paid for terraced homes fell by 0.3% monthly – but up 15.1% annually – to £92,766 on average.

First-time buyers in Hartlepool spent an average of £109,000 on their property – £15,000 more than a year ago, and £20,000 more than in November 2016.

Buyers in the area paid 13% less than the average price in the North East – £149,000 - in November.

Average North East property prices are still below the national average of £271,000.

The most expensive properties in the North East were in North Tyneside – at £192,000 on average.