New survey reveals North East house prices rising

Jan 1 2011 by Richard Fletcher, The Journal

HOUSE prices in the North East have seen a slight increase in 2010 but have fallen behind rises in the south of the country, according to a new national survey.

The figures for 2010 from mortgage lender Halifax show prices in Northumberland and County Durham increased, while prices in Newcastle stayed fairly static compared to 2009 prices. County Durham fared the best, with average prices across the county up 4%, from £109,810 to £114,620. Along with Cheshire, they are the only two counties from the north to be in the top 20 for year on year house price increases.

Northumberland was 45th on the national list with an increase of 2%, going from £133,178 last year on average to £136,147 this year.

Tyne and Wear had no significant increase, going from £124,267 last year to £124,810, leaving it in a lowly 60th position.

The figures might also suggest the effects of the credit crunch are getting smaller, as prices compared to 2005 are now only between 7 and 9% lower.