County Durham ranked UK’s top emerging property hotspot, analysis finds
County Durham scored 86.2 on the index with its average house price at £138,767, while annual price growth stood at 4.7%.
County Durham has been ranked as the UK’s top emerging property hotspot, according to analysis from Muve.
The conveyancing firm used data from the Office for National Statistics (ONS) and HM Land Registry to compare house prices, price growth, new-build activity and life satisfaction.
County Durham scored 86.2 on the index.
Its average house price was £138,767, while annual price growth stood at 4.7%.
Cumberland ranked second with a score of 78.8, followed by Northumberland at 78.
Northumberland recorded a life satisfaction score of 7.68 and annual house price growth of 5.3%.
Pendle and Newcastle upon Tyne completed the top five.
Nine of the top 10 areas had average house prices below £300,000.
The average across the study was £321,337.
More than half (56%) of the top 50 locations were in the North of England.
North Somerset was the highest-ranked area in the South, placing ninth overall.
West Suffolk ranked 19th, with an average house price of £298,038 and new-build growth of 35.7%.
Birmingham recorded the highest number of new homes over the previous two years, at 8,352, up 6.4% year on year.
Leeds followed with 7,187 new homes, while Newham recorded 5,612.
Manchester and Salford completed the top five.
Lewisham recorded the largest year-on-year rise in new builds at 698%.
Stevenage and Southampton posted increases of 326% and 271% respectively.
Hartlepool had the lowest average house price in the analysis at £129,129, followed by Burnley at £129,556 and Blackpool at £134,732.
County Durham added 3,073 homes over two years, while Sunderland added 1,535 and Hartlepool added 1,047.
Pendle recorded an average house price of £150,737 and a life satisfaction score of 7.95.
Flintshire’s average price was £214,009 and its life satisfaction score was 8.08.
David Jabbari, chief executive at Muve, said: “It’s great to see a diverse range of credible moving locations across the country, from the overall index leader, County Durham, to Birmingham, where the number of new builds popping up creates less competition for homeowners.
“It’s the combination of both factors that signals genuine opportunity for buyers: somewhere still affordable but with enough new housing being built to suggest that the area is on a developer’s radar, and increasingly on a buyer’s shortlist too.”
Related
Four in 10 London flats resold at a loss, analysis finds
Preston is UK’s best place to sell a home, research finds
Fowey tops house price growth for picturesque UK towns – Alto
Northern Ireland house prices up 9.2%, data reveals
House prices remain flat in September amid higher mortgage rates – Lloyds HPI
Almost one in 10 London homes would fall under £1.5m mansion tax threshold, Yopa finds
47% of aspiring homeowners do not expect to ever buy a property – Leeds Building Society
64% of FTBs rely on side hustles to save for home deposits – Mojo Mortgages
54% of historical Japanese knotweed locations recorded near built-up areas, analysis finds
Commercial property values down 0.9% in Q3, CBRE finds
45,000 LISA savers hit with multiple withdrawal penalties in 2024/25, FOI reveals