Figures reveal how much South Tyneside house prices have risen over the last 20 years

New data from Purplebricks has revealed that the average price of a house in South Tyneside has risen by 66% over the last 20 years.

According to the estate agent, the average cost of a house in the borough currently sits at around £159,858, which is a 29.4% increase on ten years ago when properties cost on average around £112,903.

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Twenty years ago, the average house price in South Tyneside was £96,978, meaning that prices in 2024 are now 66% higher than they were in 2004.

The figures mean that the average price of a house in the borough is now around £63,379 higher than two decades ago.

Purplebricks has also broken down the average house prices depending on the type of property, with the data for each as follows:

Detached homes:

2024: £296,492.

Ten years ago: £201,868 - a rise of 31.9%.

Twenty years ago: £181,223 - a rise of 63.6%.

Semi-detached homes:

2024: £180,444.

Ten years ago: £123,143 - a rise of 31.8%.

Twenty years ago: £105,375 - a rise of 63.6%.

Terraced houses:

2024: £140,598.

Ten years ago: £99,227 - a rise of 29.4%.

Twenty years ago: £105,375 - a rise of 71.2%.

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Flats:

2024: £93,380.

Ten years ago: £73,060 - a rise of 21.8%.

Twenty years ago: £68,186 - a rise of 35.2%.

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Sam Mitchell, Purplebricks CEO, has stated that homeowners should feel comforted that their homes have made them money over the last 20 years.

He commented: “Bricks and mortar has long been one of the safest and most secure investments in Britain.

“UK homeowners, and those looking to get onto the ladder, should take huge comfort in our analysis, which shows that investing in a forever home really does pay off.

“While London homeowners have seen huge returns on their money, it is encouraging to see that wherever you are in the UK, the home you live in has been quietly earning you money over the last two decades.”

You can view the data for yourself by visiting: https://www.purplebricks.co.uk/moving-guides/house-prices-over-time.