North East House Prices Hit All-Time High

Average house prices in North East England reached their highest ever mark across most types of property last year - with the median price tag for a property rising to £119,000 in 2006.

Data from the region’s Annual Housing Summary shows that while growth rates in house prices eased off between 2005 and 2006, they are still running at about the same level as the English average.

The yearly summary report from the North East Regional Information Partnership (NERIP), which has been prepared jointly with the Northern Housing Consortium (NHC), which has been prepared jointly with the Housing Corporation, is used to help inform policy and monitor movement and demand in the housing market.


It pulls together existing data from the Department of Communities and Local Government (DCLG), the Land Registry, HBOS and Nationwide Building Society.

Head of NERIP, Jon Carling, said: "It's clear that growth rates in prices continue to match those for England even though they did slow slightly in 2006, while affordability for first-time buyers and demand issues are still core themes of the report.

"The importance of analysing and understanding the regional housing market is continually increasing, and this report will help to inform policy and keep a check on movement in the market.

"The Northern Housing Consortium (NHC) and the Housing Corporation have provided valuable information about the size of the social rented sector, and the issues faced by tenants of Registered Social Landlords."

NERIP will introduce the report at a regional seminar on Thursday 20 September, run jointly with the North East Assembly.

(JM)