City house price rise fails to reverse trend
House prices increased slightly in Sunderland in November, new figures show.
But the pre-Christmas boost does not reverse the longer-term trend, which has seen property prices in the area remain level .
The average Sunderland house price in November was £117,184, Land Registry figures show – a 0.3% increase on October.
Over the month, the picture was similar to that across the North East, where prices increased by 0.7% and prices in Sunderland underperformed compared to the 0.4% rise for the UK as a whole.
Over the last year, the average sale price of property in Sunderland remained level – putting the area ninth among the North East’s 12 local authorities for annual growth.
The best annual growth in the region was in Hartlepool, where properties increased on average by 9%, to £121,000.
At the other end of the scale, properties in County Durham dropped 2.5% in value, giving an average price of £102,000.
In Sunderland, owners of detached houses saw the biggest improvement in property prices in November – they increased 0.7%, to an average of £214,872. Over the last year, prices rose by 0.7%.
The cost of a semi-detached went up 0.5% on the month and 0.4% annually to an average of £121,146.
Terraced homeowners saw prices drop by 0.1% in November – and down 0.5% annually to an average of £95,208.
The value of flats rose by 0.6% on the month – down 2.1% annually and averaging a price of £76,437.
First-time buyers in Sunderland spent an average of £ 102,210 – £200 less than a year ago, and £10,300 more than in November 2014.