Winter warmer for Nothumberland home owners

Land Registry figures show prices in the area increased by 1.2% in October, to an average of £204,558 – representing a 15.6% 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 the county has increased by £28,000.

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 Northumberland in October.

Prices increased by 1.5%, to an average of £351,084 – 16.5% up over the last year.

Values of semi-detached homes increased by 1.1% monthly – and were up 15.7% annually – to an average of £193,639.

Prices paid for a terraced home were up 1.1% monthly – 15.5% annually – to £159,556 on average.

Flat prices increased by 0.7% in October - up 10.8% annually – to an average of £101,308.

First-time buyers in Northumberland spent an average of £166,000 on their property – £22,000 more than a year ago, and £39,000 more than in October 2017.

Buyers paid 21.5% more than the average price in the North East (£168,000) in October for a property in the area.