Summer hit for Hartlepool home owners as latest figures indicate price fall
Home owners in Hartlepool took a summer house price hit, according to new figures.
Land Registry figures show prices in the area decreased in June – but the longer-term trend has seen property prices in the area achieve 17.7% annual growth.
The average house price in the area in June was £118,267 – down 4.1% on May and below both the North East average of 5.9%, and the 4.5% rise nationally.
But, over the last year, the average sale price of property in Hartlepool rose by £16,000.
Owners of flats fared worst in Hartlepool in June. Prices dropped by 4.3% to an average of £205,063 – but, over the last year, prices rose by 12.2%.
The price of a detached home fell by 4% monthly – but was up 17% annually – to an average of £205,063.
Semi-detached home prices fell by 4.2% monthly – but were up 14.5% annually to an average of £120,850.
The cost of a terraced home fell 4.2% monthly to an average of £85,668 – up 16.2% annually.
First-time buyers in Hartlepool spent an average of £100,000 on their property – £13,000 more than a year ago, and £10,000 more than in June 2016.
Buyers in the area paid 20.9% less than the average price in the North East – £150,000 – but property prices the region remain low low compared to the national average of average £266,000.
The most expensive properties in the North East were in Northumberland – averaging £182,000.
The highest property prices nationally were in Kensington and Chelsea, with an average June sale price of £1.2m.