North East house prices
House prices in the North East have seen the fastest increase in the country over the last five years according to a new report from the National Housing Federation.
In 2005 house process in the region rose by nearly 9.5%, faster than any other region in England. The average North East houseprice is over £126,000, 6.4 times the average regional income of just under £20,000. The report contains figures from the Oxford Economic Forecasting (OEF) suggesting prices are set to rise faster than any other region, by a staggering 67% meaning the average house price in the North East in 2011 will be over £210,000.
The report also highlights the extremes in the region, with two distinct housing markets forming. For example house prices in Hartlepool and Sedgefield are half that of the national average house price. In attractive rural areas such as Alnwick and Tynedale the average house price is nine times the average salary. In Castle Morpeth house prices are almost 20% higher than the national average
In 2005 house process in the region rose by nearly 9.5%, faster than any other region in England. The average North East houseprice is over £126,000, 6.4 times the average regional income of just under £20,000. The report contains figures from the Oxford Economic Forecasting (OEF) suggesting prices are set to rise faster than any other region, by a staggering 67% meaning the average house price in the North East in 2011 will be over £210,000.
The report also highlights the extremes in the region, with two distinct housing markets forming. For example house prices in Hartlepool and Sedgefield are half that of the national average house price. In attractive rural areas such as Alnwick and Tynedale the average house price is nine times the average salary. In Castle Morpeth house prices are almost 20% higher than the national average
posted by ew at
12:16 PM
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