Strong price growth in the north-east

Posted: 21 Sep 2007 10:38:54 GMT


            Property News - Strong price growth in the north-east

House prices in the north-east of England reached record levels in 2006.

House prices in the north-east of England reached record levels in 2006.

That is according to the Annual Housing Summary from the North East Regional Information Partnership (NERIP).

According to the report, the average property in the region was worth £119,000 last year, with Northumberland proving to be the most expensive sub-region with an average price of £135,000.

The area that saw the most sales was Newcastle, closely followed by Sunderland, North Tyneside and Stockton.

Commenting on the figures, Jon Carling, head of NERIP, said that the housing market in the whole of the north-east is thriving.

"It's clear that growth rates in prices continue to match those for England even though they did slow slightly in 2006," he said.

"The importance of analysing and understanding the regional housing market is continually increasing, and this report will help to inform policy and keep a check on movement in the market," added Mr Carling.

Halifax has put the UK's average house price at £199,770 in August.

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