New property price data analysed by Open Property Group Sunderland for detached, semi-detached, and terraced houses, and flats
- Average Detached House Price = £270,799
- Average Semi-Detached House Price = £147,017
- Average Terraced House Price = £114,709
- Average Flats Property Price = £86,532
Looking at Carlisle’s (as the closest city to Sunderland in the research) prices their average detached (£273,231), semi-detached (£161,178) and terraced houses (£122,162) all surpassed that of Sunderland’s. The average Flats price in Carlisle however are £2,763 cheaper than Sunderland’s.
Openpropertygroup.com Managing Director, Jason Harris-Cohen said:
“Historically, however, value has been broadly split between two camps – freehold and leasehold. Consumers will always favour freehold over leasehold and this naturally adds value to freehold properties. You also have to factor in the number of flats available to buy versus the number of houses – supply and demand will always impact the type of values sellers can achieve.
The new build sector is playing its part in shaping house prices. The bigger the size, the higher the resale value and we have definitely seen an emphasis on building detached and semi-detached family homes of late. Developers need to create as much space as possible to maximise the square footage of each home.”