The North East of England saw house prices rise 2.6% year on year in July according to the latest LSL/Acadata House Price Index.
The latest House Price Index report shows house prices rise 2.6% year on year in July for the North East of England.
House prices are up by 4.8% in Tyne and Wear and up 4.4% in Darlington, driving a lot of the performance from the North East. This equates to an average house price of £161,488 in the North East.
Overall, house price growth in the UK is slow and steady, remaining at 1.8% for a third consecutive month. The average house price for the UK is reported as £303,199.
A slow and steady market does come with positives as Oliver Blake, Managing Director of Your Move estate agents suggested:
“The slower market should help ease the affordability challenge faced by many buyers.”