Top and bottom of the North East's housing market

Housing prices in the North East have been revealed with a stark difference between the most expensive and the cheapest places to buy a home

Grove Park Square in Gosforth, one of the most expensive places to live in the North East
Grove Park Square in Gosforth, one of the most expensive places to live in the North East

The most expensive and cheapest streets in the North East have been revealed, with properties on the priciest road swiping a £1.5m price tag.

Information gathered from the Land Registry shows that homes in a street in Gosforth, Newcastle, a country road outside Corbridge, Northumberland, and an area of Hartlepool regularly sell for in excess of £1m.

The cheapest streets were found in Ferryhill and Seaham in County Durham where a row of two bedroom terraces had an average price of just £12,000 and were the eighth lowest priced in the country.

However estate agent Peter Clark, based in Ferryhill, said the figures do not paint a fair reflection of an improving market.

All but two in the top ten most expensive streets have an average house price of £900,000-plus with four so-called ‘millionaire rows’ - Stockton Road in Hartlepool, the B6307 road between Dilston and Dipton Wood near Corbridge and Grove Park Square and Graham Park Road both in the Gosforth area.

Graham Park Road has slipped to third place in terms of top average prices compared to last year’s figures, despite homes selling for £200,000 more than they did in 2012.

David Pern, sales consultant for the rare! Office for Sanderson Young estate agents based in Gosforth, said the suburb coming out with the region’s most expensive streets was not a surprise.

Haig Street in Ferryhill, one of the most affordable streets in the North East
Haig Street in Ferryhill, one of the most affordable streets in the North East
 

He said: “It’s been like this for a lot of years.

“It’s no surprise the streets of Gosforth are performing well but in regards to pricing a lot of home owners have got their own expectations as to how much their house is worth.

“The national 11% rise in house prices that is reported doesn’t really affect much that is higher up than London.

“Newcastle and Wales are the last areas affected either up or down in prices so we might only see a small increase in pricing.”

The information has been taken from the Land Registry for housing transactions registered with them between July 2012 and June 2013.

Mr Clark, who has been an estate agent for over 20 years, said: “I’m very protective of Ferryhill and I’m not happy about league tables.

“It’s unfair and it’s a lovely place to live.

“The least expensive houses are in regeneration areas where the local authority are spending a considerable amount of money improving those areas.”

He added: “Beaumont Street I’d call out. House prices there are higher than that, more like �25,000.

“One might have gone for £12,000 but it must have needed a lot of work doing to it.

“Walker Terrace has two bedroom homes but no vehicular access to it so this holds prices down.”

The national 11% rise in house prices doesn’t affect much north of London

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