Parts of Northumberland bucking trend for house sales

Parts of Northumberland including the Tyne Valley are bucking the trend in terms of house sales, an estate agent has claimed

A couple outside an estate agent's window
A couple outside an estate agent's window

Parts of Northumberland including the Tyne Valley are bucking the trend in terms of house sales, a local estate agent has claimed.

Steven McOwan, a partner at Smiths Gore in Corbridge, has spoken of a disappointing summer in the housing market, due to additional properties being available to satisfy demand.

Yet he has claimed that parts of Northumberland including the Tyne Valley “are performing well” and demonstrate a clear appetite to transact if all the factors are right.

His words came as no surprise to Hexham Conservative MP Guy Opperman who said they were proof that housebuyers view Tynedale as a “wonderful place to live.”

Mr McOwan said: “After strong price growth in the provincial markets from Easter till late Spring, the summer has largely disappointed.

“The buyers are there, but the mood has changed from verging on the frenetic, to a much more balanced view, as more stock becomes available to satisfy demand.

“The north – south divide is probably at its most extreme at present, although the heat of the central London market appears to be waning.

“Local buyers appear only willing to commit if the property ‘ticks every box’ and are quite happy to play the waiting game, in the knowledge that prices are not rising at a level which is eroding their purchasing power.

“It is not a case of which prices range is selling best, more a case of the right property and the right buyer coming together at the right point.

“We await the autumn market with eager anticipation to see if the ripple of activity continues northwards.

“There are still pockets within Northumberland and the Tyne Valley which are performing well and demonstrate a clear appetite to transact if all the factors are right.

“The rural market has traditionally experienced more seasonal ebbs and flows than urban areas and it will be interesting to see whether the July figures from Land Registry reflect this, or whether the hiatus is more universal.

“The hope is that this is only a short term lull and September will see the improvements in the market back on track.”

Mr Opperman said: “This study seems to show that housebuyers agree that Tynedale is a wonderful place to live - something that everybody who lives here agrees.

“Clearly we need to ensure that the Tyne Valley remains the destination of choice for both tourists and people who want to make a home here and contribute to the wonderful way of life here.”

The estate agent’s words come as developers Gladman plan a further 237 new homes at Corbridge, at a site off Milkwell Lane.

Journalists

David Whetstone
Culture Editor
Graeme Whitfield
Business Editor
Mark Douglas
Newcastle United Editor
Stuart Rayner
Sports Writer