North East property hotspots have been revealed following evaluation of newest house sale figures.
They show that North Tyneside has seen the greatest worth enhance with 18.26% over five years between February 2016 and February 2021.
In that point the common house worth there went up from £148,679.39 to £175,828.81.
Close behind is Northumberland the place the common house prices rose from £145,172.44 to £171,421.00, a rise of 18.08%.
The smallest enhance was in South Tyneside which noticed common house prices go up 10.6% from £120,680.15 to £133,474.51.
The examine was carried out by cash switch consultants Xendpay, which checked out figures throughout greater than 400 areas of the UK.
Their findings additionally revealed that North Tyneside has the costliest common house worth in the area, having overtaken Newcastle, which had the highest common worth in February 2016.
The Covid-19 pandemic has created a singular property market, with prices rising in many areas.
Strike is promising to undercut rivals by promoting houses free – saving clients as much as £3,600 once they promote their residence. Strike says folks can verify if their postcode is offered for the free provide here, the place you’ll be able to e book a free valuation.
YOPA can be providing instantaneous valuations on its website here.
Other elements of the area additionally noticed a rise in prices. In Gateshead they jumped 15% from £123,669.27 to £142,214.44.
County Durham noticed a 14.89% enhance from £98,114.39 to £112,722.16 and the common worth of a house in Sunderland went up 13.97% from £108,348.81 in February 2016, to £123,484.72 five years later.
While Newcastle is the second costliest space on the checklist, it had the second smallest common house worth enhance, going up by 11.35%, standing at £150,838.04 in February 2016, and £167,964.16 five years on.
Across the UK, the common house worth in February 2016 was £205,555, whereas the newest determine stands at £250,340 – a rise of 21.78%.
Comparing the 4 nations of the UK, Wales has seen the greatest enhance in common house worth over the previous five years – 26% – going from £142,711 in 2016, to £179,860 in 2021.
Northern Ireland is not far behind, exhibiting a 24.18% enhance, with the common worth rising from £118,850 to £147,592.
England’s common house worth has gone from £220,626, to £268,291 – a rise of 21.6%.
Scotland has seen the lowest rise, 19.98%, as the common price of a house in 2016 was £134,625, in comparison with £161,529 now.
Table exhibits– Area; common house worth in February 2021; common house in February 2016; proportion enhance
North Tyneside; £175,828.81; £148,679.39; 18.26%
Northumberland; £171,421.00; £145,172.44; 18.08%
Gateshead; £142,214.44; £123,669.27; 15%
County Durham; £112,722.16; £98,114.39; 14.89%
Sunderland; £123,484.72; £108,348.81; 13.97%
Newcastle : £167,964.16: £150,838.04: 11.35%
South Tyneside; £133,474.51; £120,680.15; 10.6%;