House prices in South Tyneside: The most expensive areas to buy property in South Shields and more

The cost-of-living crisis has forced many people to cut back on their spending.

And anyone wanting to buy a new home is under particular pressure as the Bank of England continues to hike the base rate, forcing up the price of mortgages.

But for the lucky few who can afford to splash out on a new property, certain areas of South Tyneside could have what they are looking for - from spacious rooms to the latest mod cons.

So which areas of South Tyneside have the most expensive house prices? Every three months, the Office for National Statistics releases highly localised figures showing how average sale prices vary across the suburbs, towns and villages of England and Wales.

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The latest figures, covering the calendar year 2022, show Knightsbridge, Belgravia & Hyde Park in the London borough of Westminster had the priciest properties in England and Wales, with homes selling for an astonishing £4.1 million on average. This was nearly double the price of the second most expensive area, Kensington Abingdon in the London borough of Kensington and Chelsea, where homes sold for £2.25 million on average.

The latest set of figures also pinpoint the parts of South Tyneside which had the priciest homes, on average, in 2022. The figures are the median price, and encompass all home types and sizes.