Tynemouth named region’s property hotspot

Tynemouth view'Picture by Jane Coltman
Tynemouth view'Picture by Jane Coltman

Tynemouth has been named the north east property hotspot.

Figures for 2015 showed that the average price of houses in the village rose by nearly £20,000 compared to 2014.

Tynemouth view

Tynemouth view

The figures have been released by sales and lettings firm KIS.

House prices in Tynemouth rose by an average of £1,600 a month, leaving an overall rise of £19,697 from December 2014 to December 2015.

However, nearby Whitley Bay saw the fourth lowest rise, with the average house price only rising by £1,580 over the year.

Ajay Jagota, founder and managing director of KIS Group, said: “Seeing places like Tynemouth and Morpeth rising in appeal probably comes as little surprise to many people, but the real value of research like ours lies in the unexpected.

“2015 has been on the whole a very positive year for property prices in the north east – especially in the second half of the year.

“It’s clear to see though that some areas have had a more positive year than others.

“To see prices still up by almost one per cent in December definitely hints at a strong 2016.”