Summer hit for Hartlepool home owners

Homeowners in Hartlepool suffered a summer hit as house prices fell by one per cent in June, according to new figures.
House prices re falling in HartlepoolHouse prices re falling in Hartlepool
House prices re falling in Hartlepool

The dip in prices between May and June contributes to the longer-term trend, which has seen property prices in the area suffer a 3.3% annual decline.

The average Hartlepool house price in June was £105,580, Land Registry figures show – a one per cent decrease on May.

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Over the month, the picture in the area was worse than that across the North East, where prices increased 2.9%, and Hartlepool also underperformed compared to the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Hartlepool remained level – putting the area eighth among the North East’s 12 local authorities for annual growth.

The best annual growth in the region was in Northumberland, where properties increased on average by 5.6%, to £160,000.

At the other end of the scale, properties in Middlesbrough dropped 8.3% in value, giving an average price of £103,000.

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Owners of flats fared worst in Hartlepool in June – as prices dropped by 1.7% to an average of £58,374 on average​.

Over the last year, prices dropped by 5.6%.

Owners of detached homes saw prices drop by one per cent on the month – down 2.5% annually to an average of £181,604.

The price of semi-detached homes was down by 0.8% in JUne – down 3.1% annually to an average of £109,032.

The value of terraced homes fell by one per cent between Mahy and June – down 3.8% annually to an average of £76,055.

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First-time buyers in the area spent £​89,300 on their property – ​£3,100 less than a year ago, ​and ​£2,000 more than in June 2015.

Buyers in Hartlepool paid 9.9% less than the average price in the North East – £132,000 - in June.

Across the North East, property prices remained relatively low compared to those across the UK – where the average cost was £238,000.

The highest property prices in the country were in Kensington and Chelsea, in London, where the average June sale price was £1.4m.