March 27, 2019
Durham is a mixed bag when it comes to property prices. Although it can cost a lot to buy a house in Durham city centre, many of the city’s suburbs are well below the average cost for a house in the North East of England.
According to recent estimates from Zoopla, the current average value of houses in Durham is £165,436, making the city more affordable than the rest of North East England, for which the average property price is £188,969.
To give you an idea of what you can get for your money in Durham, we’ve broken down the average property prices by type of house. These averages are taken from the last twelve months of data (to August 2019).
● Detached house: £248,642
● Semi-detached house: £134,684
● Terraced house: £113,966
● Flat: £121,752
Perhaps unsurprisingly, if you’re buying a house in Durham, the most expensive area to go for is the city centre. Houses in the DH1 postal district cost, on average, £213,361, which has increased by 3.87% over the last 5 years. This area is the most historic part of the city, and given the small size of Durham, it allows for easy walking to all other areas.
The DH3 postcode is another costly area in which to buy a house. Chester-le-Street is one of the oldest market towns in County Durham, and the area east of the East Coast Main Line railway commands high property prices, as does former mining village Great Lumley. Birtley, with just over 8,000 residents, is another highly sought-after village close to Durham. The average house price in the DH3 area is £176,075.
House prices in the DH4 region average £159,544, which make this area towards the more expensive end of the scale, but prices are still lower than the average for Durham. DH4 includes the charming towns of Houghton-le-Spring, Penshaw and Shiney Row.
Finally, the DH2 area is another of the most expensive regions to buy a house in Durham. This includes Chester-le-Street (west of the East Coast Main Line), as well as the quiet villages of Ouston and Pelton, and the larger town of Birtley. The average house price in the DH2 postal district is £142,604, which has increased by 6.73% in the last 5 years.
If you’re looking to get more for your money, then take a look at houses for sale in the DH9 region of Durham. This includes the village of Dipton, which has a number of new-build housing developments, as well as the former colliery town of Stanley. Average house prices in this area come in at £102,638, which is over £85,000 cheaper than the average cost for a house in the North East of England.
The DH6 postal region is another good bet for an affordable home. South Hetton is a small village located six miles east of Durham, made up of mostly terraced housing, with good access to the unspoilt countryside of County Durham. Ludworth is a tiny village of just 350 homes, and is ideally located for those looking to commute into Durham, Sunderland or Newcastle. Shadforth is another small village to the east of Durham, with a designated conservation area at its core. House prices in these three villages, along with nearby Haswell, Shotton Colliery and Sherburn come in at an average of £116,805.
DH8, the area to the north west of Durham, is another of Durham’s cheaper areas to buy a house. This includes the market town of Consett, which sits on the edge of the Pennine Hills; Shotley Bridge, a village close to Consett with a great deal of Victorian architecture; and the village of Leadgate which is undergoing regeneration. Average house prices in this area are £129,989 and these have increased 3.6% over the last five years.
Another great option is the DH5 area, which has actually seen a decrease in house prices over the last five years, with the average now coming in at £134,856. This area includes Hetton-le-Hole, a town of 14,000 with easy access to the M1, and the area of Houghton-le-Spring east of the A690.
If you’re looking to make an investment that will serve you well in the future, consider buying a house in the DH6 postcode area. This up-and-coming area is to the east of Durham city, and includes the charming villages of South Hetton, Haswell, Ludworth and Shadforth. These villages all offer the close-knit feel of village life, but are close to the city and all its amenities. A house in this area is the perfect choice for commuters to the city centre, and for young families who want to enjoy the peace and quiet of the countryside surrounding Durham.
So, what can you get for your money in Durham? Overall, it’s quite affordable to buy a house in Durham but, of course, some areas are far pricier than others. In the DH9 town of Stanley, roughly 9 miles north west of Durham city, you can get a five-bedroom terraced house for £70,000, whereas in the city centre (DH1), you can expect to pay upwards of £120,000 for a one-bedroom flat.
House prices in Durham area, on average, lower than in the rest of the North East of England. Durham city centre is a historic area, with many old buildings and interesting architecture and as such, you’ll pay a premium if you want to live in the heart of it all.
If you’re looking to buy a house slightly further out in the suburbs, or in one of the many old mining villages close by, you’ll find a great range of houses from terraces to detached, at prices that are far more affordable.
(All figures as of August 2019 unless otherwise stated.)
If you need advice for first-time buying in Durham – or if you’re looking for a reliable mortgage broker in the North East – don’t hesitate to contact us today.
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March 27, 2019
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