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Teesside property experts said the slump raised the spectre of some homeowners facing negative equity - when the value of their mortgage is greater than their home.
Michael Poole, owner of Michael Poole Estate Agents and regional executive of the National Association of Estate Agents in the northern region, said: “We are still following a period of high prices and some of these falls are some of that washing out of the system.
“In some areas there are properties remaining on the market for a long time because people can’t afford to drop their prices.”
He added that difficulties for first-time buyers in saving enough deposit to go towards a mortgage was also dragging on prices.
The figures show that the average house price in Middlesbrough stands at £82,327, while in Stockton and Redcar & Cleveland, prices average at £113,178 and £100,416. In Hartlepool, the average price is £76,818.
The Land Registry data is seen as one of the most reliable gauges of the property market, as it is based on actual property sales.
mckeeverrealestate.com Stockton Real Estate homes prices go back to the future. Prices now are less than the were in 2001! Check out more at http
The decline in home prices, in particular, reflects the mounting social distress of tens of millions of Americans under conditions of near double-digit unemployment and an ever-expanding wave of home foreclosures. OBAMA AND HIS SELLOUT OF THE AMERICAN PEOPLE FOR WALL ST. AND THE ILLEGALS' ILLEGAL VOTES. In California alone, WELFARE to illegals cost $20 billion. Los Angeles County pays out $600 million per year in welfare to illegals....
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Congressional Record A few years ago, Arizona had been a national leader in home prices. ... Nearly one out of 50 homes is being repossessed. Stockton has the highest ... |
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Cities ranked & rated, more than 400 metropolitan areas evaluated in the U.S. & Canada Median home price shows the price for an average home in the area based on mid- 2006 sales. (Recall that median means half the homes sold for more, ... |
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132 pages |
Rudder Grange Now the prices demanded as yearly rental for small furnished houses, by the owners and agents of whom I have been speaking, were, in many cases, ... |
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195 pages |
Bonds Now!, Making Money in the New Fixed Income Landscape Worse still, 77 percent of Stockton's revenues go to pay police and firefighters . Sales and property taxes are way down as home prices decline 60 percent. ... |
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264 pages |
Black Enterprise The drop in mortgage interest rates and home prices nationwide have put all buyers on the .... Stockton, Calif. S34,000 $140000 8. Grand Rapids, Mich. ... |
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Growing pains Still, Tracy is no stranger to the housing bust and its negative effects on home prices, property taxes and quality of life. Browned lawns and vacant houses have been a common sight. As of Thursday, Feb. 24, more than 2000 homes in some state of |
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Stockton Native Fights Forbes Review; Watch his Video Last month, Forbes came out with their list of unhappy urban areas, and Stockton topped the list. Merced, Modesto and Sacramento were also in the top 5. The magazine used several factors in their calculations, including falling home prices, |
Stockton is again the Most Miserable City in the country
Our central valley neighbor, Stockton, took the Most Miserable City award for the unfortunate second year in the row. Median home prices in the city tripled between 1998 and 2005, when they peaked at $431000. Now they are back to where they started,
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America's Most Miserable Cities Located in the state's Central Valley, Stockton has been ravaged by the housing bust. Median home prices in the city tripled between 1998 and 2005, when they peaked at $431000. Now they are back to where they started, as the median price is forecast to |
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Mattel: Toy Prices To Go Up Speaking from the Nuremberg International Toy Fair, chief operating officer Bryan Stockton told that Mattel will be looking at reducing costs but also increasing prices in the coming year. Worldwide sales grew 9% in the three months to |