Let's take a look at the house price index for August!
August 2017 saw a drop in house prices in the North East by 0.8% which is an average of £2,758. The North East region fared slightly better than the national average of a 0.9% decrease. These decreases can be attributed to the seasonal lows experienced over the school holidays. The average time is takes to sell a property has slightly increased by just one day so despite prices dropping a little, it's not taking too much longer on average to sell your home.
The August 2017 North East average house price was £148,819 which is a decrease from July's average of £150,012. In comparison to August 2016's average of £147,330; house prices in the North East are up by 1.0% which was the smallest increase of all regions.
The top three hottest markets this August according to Rightmove were Northamptonshire, Derbyshire, and Norfolk.