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North East records strongest house price growth in England and Wales

Christina Hoghton
Written By:
Christina Hoghton
Posted:
Updated:
16/07/2018

But pricey Windsor and Maidenhead has seen a double-digit annual fall in property values

House prices in the North East saw the strongest annual growth in the three months to June, with prices up 3.7%, led by strong markets in Darlington (up 7.9% annually) and Northumberland (up 8.7%).

The West Midlands was the second strongest region with growth of 3.2%.

Rutland in the East Midlands had the largest annual price rises, up 18.5% over the year.

South East slowdown

At the other end of the scale is the South East, where prices were down 0.5% over the year, despite many areas, including East Sussex, Oxfordshire, West Berkshire and the Isle of Wight, hitting a new peak average price.

However, Windsor and Maidenhead experienced the largest reduction in prices for the third month running, down 12.4% over the year.

The average house price in England and Wales in June stood at £303,960, down 0.2% from May, while transactions were down 8% over the previous year.

Oliver Blake, managing director of Your Move and Reeds Rains estate agents, said: “Two thirds of England and Wales’ unitary authority areas – 72 out of 108 – continued to record annual price rises in May. Overall prices were up 1.8%, or £5,485 on a year earlier.

“Areas where prices have dropped are concentrated in either Wales (eight of the 36) or in the South, with eight in the South East and five in the South West.”


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