House Prices Rise in Tyne and Wear, North East England

Property prices in Tyne and Wear, North East England, rose by 5 per cent between January 2006 and January 2007.

According to the latest Land Registry figures, the average price of a property in Tyne and Wear stood at £141,004 last January.

The average price of a detached home was £245,004 in January 2007, compared to £245,503 in the previous January, a difference of 0.2 per cent.

Semi-detached homes cost an average of £148,577 last January, compared to £146,106 the year before while the average price of a terraced home stood at £130,038 in January 2007, compared to £122,566 in January 2006.

The cheapest property purchased in Tyne and Wear between January 2006 and January 2007 sold for £10,000 while the most expensive cost £1m.

In total, during the same period, £3,077m was spent on property in the area.

The average price of a house in Tyne and Wear in January last year compares to £141,004 for the county of North East England and a national average of £211,232.