Updated: February 2024

House Prices in North East

When exploring house prices in North East, traditional figures like pounds don't always paint the full picture. To provide a clearer view, our unique approach measures house prices not only in pounds but also in an everyday item everyone understands — loaves of bread.

Regions

Prices

Lowest Price

74,040 🍞

February 1996

Highest Price

177,361 🍞

December 2004

Lowest Growth Year

-30.61%

2008

Highest Growth Year

21.93%

2003

The North East Property Market Sliced

This innovative method helps visualize the inflation-adjusted value of properties, making the data more accessible and relatable.

Real House Prices: Pounds vs. Loaves of Bread

The value of money changes over time, influenced by factors like inflation, economic shifts, and changes in purchasing power. To simplify this concept, we use loaves of bread as a proxy.

By representing the average house price in North East in terms of both pounds and loaves of bread, we offer a dual perspective that illustrates how much the real value of money has shifted.

North East Property Market Overview

In recent years, the property market in North East showed interesting trends.

This dual representation helps highlight the relative economic impact of house pricing changes, beyond mere currency fluctuations.

Analyzing Different Property Types

Different types of properties often experience varied market dynamics. In North East, the trends varied across different types:

  • Terraced Houses: £ / loaves
  • Semi-Detached Houses: £ / loaves
  • Detached Houses: £ / loaves
  • Each type reflects unique buyer preferences and economic conditions affecting North East's housing market.

Why Use Loaves of Bread?

The choice of loaves of bread as a measure unit is based on its universal relevance — everyone buys bread. By comparing house prices to the number of loaves that could be purchased for the same amount of money, we provide a more tangible sense of value over time, which can be more digestible than abstract percentages or inflation rates.

Implications for Home Buyers and Investors in North East

For those looking to buy a home or invest in North East, understanding both the traditional and bread-based price perspectives can offer deeper insights into the real value of properties and how it's evolved. This can guide better-informed decisions, taking into account both current market conditions and historical trends.