1. Examining the Regional Evidence Base Rebecca Hulbert Research Specialist Advisor 20 th September 2007

2. Annual Summary of Housing Market Activity  Annual Summary of Housing Market Activity and Dwelling Stock – produced in partnership with the Northern Housing Consortium and the Housing Corporation.  Provides latest annual picture and gives some insight into the main aspects of the housing market.  Report contains figures on: House Prices Dwelling Stock Property Sales Difficult to Let Registered Social Landlord (RSL) stock Decent Homes Sales and Transactions in the Private Sector Affordability (First Time Buyers)

3. House Prices £168,000 £119,000

4. House Price – Type of House £231,963 £181,133 £135,928 £108,642 £105,576 £94,283 2% 8.5%6%4%8.7%1.3 %

5. Sub-Regional House Prices £109,900£105,000£135,000£122,000

6. Local Authority District House Prices NorthumberlandTyne & WearCounty DurhamTees Valley Tynedale Sedgefield £181,000 £86,000

7. Property Sales 18%

8. Property Sales - Local Authority NorthumberlandTyne & WearCounty DurhamTees Valley Newcastle Upon Tyne Teesdale

9. Right to Buy Tees Valley County DurhamTyne & WearNorthumberland Easington Darlington

10. Housing Stock 31% 14% 3% 10% 7% 9% 59%66%

11. Starts and Completions  Total new dwellings started = 8,076  Total new dwellings completed = 7,637 StartsCompletions Private7,4137,133 RSL575416 Local Authority8888 Sunderland = 13% Gateshead = 10.5% Newcastle = 10%

12. Homelessness  In 2005/06 - 5,970 homeless households in priority need accepted by local authorities in the North East  Decrease of 360 households since 2004/05  35% in Tyne & Wear (excludes Gateshead)  Teesdale and Alnwick accepted the fewest households as being homeless.  More than 3,000 find themselves in temporary accomodation in 2005/06

13. Difficult to Let

14. RSL Lettings – Household Type 39% 19% 11%

15. RSL Lettings – Economic Status 33% 20% 2.1% 1.6% 75%

16. RSL – Decent Homes Standard NorthumberlandTyne & WearCounty DurhamTees Valley Berwick Hartlepool Sunderland

17. Housing Affordability and First Time Buyers  House Prices for First Time Buyers have risen 2003 = £75,693 2006 = £106,930  Mortgage advances have also increased 1995 = £34,070 2005 = £93,040 Ratio of house prices to household income – lower quartile

18. Conclusions  House prices continue to rise in the region – at a rate similar to the rest of the country.  Following a couple of years of decreasing property sales – 2006 saw a significant turnaround with an 18% rise in the number of sales.  Affordable housing appears to have become more of an issue in a number of areas in the North East in recent years.

19. Examining the Regional Evidence Base Rebecca Hulbert Research Specialist Advisor 20 th September 2007