Spring boost for Hartlepool home owners
Home owners in Hartlepool got a spring boost when average house prices in the area increased in April, according to new figures.
Land Registry figures show prices increased by 8.2% in the area in April – contributing to the longer-term trend, which has seen property values in the area achieve 20.1% annual growth.
The average Hartlepool house price in April was £125,482 – and the percentage increase was better than that across the North East, where prices decreased 1.7%. The housing market in Hartlepool also outperformed the 1.9% drop for the UK as a whole.
Over the last year, the average sale price of property in the area rose by £21,000 – putting the area top among the North East’s 13 local authorities for annual growth.
At the other end of the scale, properties in Northumberland gained 6.4% in value, giving an average price of £165,000.
The owners of flats in Hartlepool saw the biggest improvement in property prices in April.
Their values increased by 8.6%, to an average of £67,975 – meaning an annual increase of 16.1%.
The value of a detached home in the area rose by 7.7% monthly – up 20.1% annually – to an average of £215,296.
The value of a semi-detached was up by 8.1% on the month – and 19.7% annually – to an average of £128,793.
Terraced home prices in the area rose by 8.5% monthly to an average of £91,183 – up 20.7% annually.
First-time buyers in Hartlepool spent an average of £106,000 on their property – £18,000 more than a year ago, and £19,000 more than in April 2016.
Buyers paid in the Hartlepool area paid, on average, 12.9% less than the average price in the North East – £144,000 - in April.
Across the region, property prices remain low compared to national values and the average price of a home in the UK stood £251,000 in April.
The most expensive properties in the North East were in North Tyneside – £186,000 on average.
The highest property prices nationally were in Kensington and Chelsea, where the average April sale price was £1.1m.