Winter warmer for Sunderland home owners

Land Registry figures show prices in the area increased by 1.5% in October, to an average of £146,701 – representing an 8.9% increase over the last 12 months.

Over the month, the market was slightly down on that across the North East, where prices increased by 1.9%, but above the national market, where prices rose by 0.3%.

Over the last year, the average sale price of property in Sunderland has increased by £12,000.

Average UK house prices increased by 12.6% in the year to October, to an average of £296,400, which was £33,000 higher than a year earlier.

Owners of detached houses saw the biggest rise in property prices in Sunderland in October.

Values increased by 1.8%, to an average of £274,624. Over the last year, prices have risen by 9.8%.

The value of a semi-detached was up 1.5% monthly – and 9.1% annually – to an average of £152,256.

Prices paid for terraced homes increased by 1.3% over the month – and 8.9% annually – to an average of £119,851.

Flat values increased by 1.5% monthly – and 6.6% annually – to £88,215 on average.

First-time buyers in Sunderland spent an average of £128,000 on their property – £11,000 more than a year ago, and £26,000 more than in October 2017.

Buyers paid 12.9% less than the average price in the North East (£168,000) in October for a property in the city.