The North East, stretching from County Durham to the Scottish Borders, has long been recognised as one of the most affordable areas to buy in England. But many stereotypes no longer ring true.
Many of the mining and other purpose-built industrial villages have been replaced by new-build developments; and housing prices in Newcastle, Northumberland and elsewhere have experienced a positive upturn.
1. The statistics
- Average price of a property in the North East: £128,153
- Monthly change: -0.7%
- Annual change: +4.8%
2. The outlook
- Regional fluctuations
Like in the Midlands, regional differences mark out this area. Prices in historical towns such as Berwick-upon-Tweed and Durham have traditionally been much higher than the industrial centres of Middlesbrough or Hartlepool. However, redevelopment and an image makeover in many of these areas should cause prices to rival each other.
- Green appeal
As one of the largest counties, Northumberland has one of the lowest populations. The draw of an untouched National Park and plenty of green space is leading more people here, though - and makes it the most expensive area in the North East. According to a recent survey, homeowners in the North East see the environment and nearby green space as one of the most important factors affecting their choice of property.
- Redevelopment
The level of redevelopment taking place in this formerly neglected part of the country spells good things for the North East. Both Newcastle and Gateshead have been transformed into commercial centres, and industrial areas along the coast are also undergoing changes in order to attract new business, and with it new housing. Property price growth should compliment these changes.
3. Place to watch
Morpeth in Northumberland. Property prices are still reasonable in this pretty market town. It's surrounded by the picturesque Northumberland countryside and is a short distance from the coastline. It's also a straightforward commute to Newcastle.
The housing market by region
Useful links
- Recent property sales - see what's sold in Aviemore
- Average property prices - examine local trends in Aviemore
- Find a property - look for your new home in Aviemore
- Property valuation reports - get an instant home valuation for £19.95
Average price, annual % change
- Darlington: £127,526, +4.9%
- Durham: £114,910, +6.8%
- Gateshead: £120,773, +5%
- Hartlepool: £105,814, +3.7%
- Newcastle upon Tyne: £143,299, +4.4%
- North Tyneside: £144,391, +4%
- Northumberland: £154,952, +7.7%
- Redcar & Cleveland: £135,827, +8.4%
- South Tyneside: £118,444, +0.3%
- Sunderland: £118,248, +6.4%
- Stockton-on-Tees: £128,609, +4.7%
- Tyne & Wear: £131,727, +4.7%
Source: Land Registry, May 2007
Matt (Stockton-on-Tees), on 10/01/2008 at 17:22
Billingham is the place to be. IN 5 years time the town centre will be totally regenerated and will have a great park and improved facilities at the sports centre and theatre. Watch the house prices soar!
Larry (Durham), on 25/10/2007 at 20:45
For those of you who have never visited Durham City don't bother - it is all cloth caps, dole queues, grimy streets, pit heaps, work houses and soup kitchens etc..
(For those of you who live here or have visited visited please "shush"- we know we are living in one of the loveliest Cities in the world but do not want any more car parks.)
larry (Durham), on 25/10/2007 at 20:36
I think Durham City is lovely.
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