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Average Teesside home is worth £25k LESS than it was five years ago

UNEMPLOYED IN TYNE & WEAR

The average homeowner in parts of Teesside has lost £25,000 off the value of their house since the coalition came to power in 2010 – while prices in London have soared.

Exclusive analysis of Land Registry data show the average house price in Redcar and Cleveland has dropped by 21.3% since May 2010, the date of the last election.

The average price is now £92,785 – or £25,134 LESS than it was then.

Only two places in the country – Merthyr Tydfil (down 27.1%) and Blackpool (down 24.9%) – have seen a bigger percentage fall.

In Middlesbrough, prices are down 6.6% since May 2010.

That means the average property is worth £5,904 less now than then.

And Stockton-on-Tees has seen a 2.6% fall, equivalent to £2,944.

Across England and Wales as a whole, house prices have actually gone up by 10.8% since May 2010, with the average property worth…

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