Average house prices in the UK hit a new record in June, with the North East seeing double-digit growth, according to the Nationwide Building Society house price index. The average cost of a house in the region is now £159,283, which is 10.6% more than in June 2021.
But there are “tentative signs of a slowdown”, according to an index. Across the UK, the average house price in June was £271,613, up by just 0.3% month on month.
Since the start of the pandemic in 2020, house prices in the North East have risen by 22.9%. That means, if your house was worth £200,000 in 2020, it will on average be worth around £246,000 now.
