New statistics suggest properties on the edge of Sunderland are enjoying a spring surge in their value. With the region as a whole sharing a 1.4 per cent monthly increase in the average value of its properties, the figures for Houghton-le-Spring and Easington show 3.4 per cent and 3.2 per cent rises respectively.
The average price of a house in Houghton (pictured above) is now said to be £142,692 while in Easington the cost is £114,080. In Sunderland, where property prices grew 0.3 per cent in March, the average price of a property is now £142,811. In neighbouring Washington, the average cost has risen 1.1 per cent in the last four weeks to £155,202.
All four figures, compiled by North-East firm KIS, are still below the regional average cost of £168,000. This compares to £165,682 at the end of February and £163,467 at the end of March 2017.
Ajay Jagota, managing director of South Shields-based KIS Group and founder of deposit-free renting firm Dlighted, said: “These figures are clearly good news for North-East home owners. “But it’s important to remember that they are good news for people hoping to become North-East home owners too. “Recent government figures showed UK wages rising by 2.6 per cent a year.
“So with North-East house prices rising at a slower rate, this should mean more people able to take a first step on the property ladder. “One of the most interesting things about this month’s figures is how the North East’s property hotspots are in many cases on the peripheries of major cities rather than within the major cities themselves.
(c) Sunderland Echo