You’d need deep pockets to live in these streets

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TWO Ponteland streets are among the top 10 most expensive in the North East.

And Whalton Park in Gallowhill, near Bolam, also made the Lloyds TSB list which is based on house sales between 2007 and 2011.

But other parts of Ponteland — including last year’s number two Western Way — have dropped out.

Although Darras Road’s average price went down from £793,000 to £750,000, it moved up from fifth to third.

Edge Hill improved its position by 11 places to come sixth. Its figure increased by £60,000 from £590,000 to £650,000. Whalton Park was tenth with an average price of £608,000.

The streets are ranked by the arithmetic annual average prices of house transactions between January 2007 and October 2011 — last year’s list was drawn up from sales between January 2006 and October 2010.

The data is sourced from the Land Registry and individual post codes from the Royal Mail.

Only streets where there have been at least seven transactions over the period are included in the analysis for England and Wales.

This could well be the reason why Western Way and Runnymede Road in Ponteland, which last year were second and sixth with respective averages of £1.14million and £739,000, and the most expensive streets in and around Morpeth, are not included.

RICS North East housing market spokesman and Director of estate agency Rook Matthews Sayer Richard Sayer said: “The number of sales transactions across the country is about half of what it was at the peak of the housing boom period in 2007.

“Current values are around the same as in 2005 and we’re expecting them to broadly flatline this year.

“Quite a few people are nervous about putting their property up for sale, but in many cases they are being unduly nervous as homes are being sold as quickly or even quicker than in 2007. Some owners who want or need to move elsewhere are still making a decent profit.

“The slower market means there are only a few homes available in popular areas so if people really want to move to the area and are able to afford it, they will be prepared to pay a decent price.”

Graham Park Road in the Gosforth area of Newcastle is the most expensive street in the North East with an average price of £1.23million.