HOUSE prices in the North-East rose 9.5 per cent for the year to the end of July, the latest official figures have shown.
The average cost of a house in the region climbed to £156,000 from £144,000 a year earlier.
Nationally house prices reached a new record high of £272,000 on average after surging by 11.7 per cent over the last year, according to the Office for National Statistics (ONS).
Several UK regions saw property prices reach fresh all-time highs in the month of July, with the East Midlands, the West Midlands and the South West now joining London, the East and the South East in having price levels higher than their pre-financial crisis peaks of 2007/08, the ONS said.
The slowest growth in property prices was in Northern Ireland, up 4.5 per cent, and Yorkshire and the Humber, up 5 per cent.
Property values in London continue to rise faster than the rest of the country, recording a 19.1 per cent year-on-year jump and taking the average property price in the capital to £514,000.
On a month-on-month basis, property values increased by 1.6 per cent across the UK between June and July.
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