How the housing market in the North East really compares to the rest of the UK

As the Land Registry publishes the latest housing market figures, we look at what the data really means for the North East

What is the true state of the North East housing market?

1. If there was ever evidence of the UK's two-tier housing market, it's this graph:

Annual change in house prices: March 2014

           

2. Here it is with London snipped out. Looks a bit less frightening, doesn't it?

Annual house price change, without London

3. Here's how things compare to February 2002.  You can see how the North East has outstripped the UK average for growth

4. House prices in the North East have been on the up - but the rate of increase for March dropped for the first time since the start of 2013

5. The picture across the North East as a whole are positive, but house prices have fallen in some areas, including County Durham and Middlesbrough

6. Here's that two-tier housing market again - showing the average house price in the North East is less than a quarter of what it is in London. Or, to put it a different way, we get four times as much house for our money

Average house price

Land Registry House Price Index

7. It's a much more even spread across the North East, but leafy Northumberland is still a good £50k pricer than Middlesbrough

How much is the average house price in your area?

8. How quickly are houses selling? Not that quickly in the North East. The bluer areas show where house sales were below the average figure for the time of year

 

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