Sunderland Echo provides news, events and sport features from Omega Watches James Bond the Sunderland area. For the best up to date information relating to Sunderland and the surrounding areas visit us at Sunderland Echo regularly or bookmark this page.
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Average house prices in Sunderland have settled at between 90,000 and 100,000. Nationally, they are between 140,000 and 150,000.
He said: "The first time buyer is still very active and that is supporting the thrust of the market.
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"At the top end, things are little bit more careful.
Editor in chief Andrew Stuart said: "The latest house price projections for Sunderland show that rampant house price increases in the South of the last few years are expected to ripple through and house prices in the area are beginning to catch up with the South East."
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"Homes around the 250,000 mark don't appear to be selling as quickly.
The city was today identified as the latest regional hotspot, along with Gateshead, by independent consumer magazine Your Mortgage.
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Sunderland is leading the way in the North East, with the latest market predictions revealing that property prices could leap 16 per cent in the next four years.
Ashley O'Carroll, a partner with Sunderland based Peter Heron Estate Agents, said buyers trying to get ahead were snapping up traditional cottages in areas such as Southwick, Hendon and Pallion.
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City is house price hotspot
"But the bottom end of the market is still busy and, compared with house prices nationally, property here is considerably cheaper. "
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