House prices for first time buyers vary wildly in North East according to Which?

House prices for first-time buyers in the North East vary considerably between local authorities according to research by Which?.

In County Durham, first-time buyers can expect to pay an average price of £114,733 for a house, requiring a 5 per cent deposit of £5,737 or a £11,473 for a 10 per cent deposit.

In contrast, a similar deposit for a property in Northumberland, which averages £162,813, is much higher - £8,141 for 5 per cent and £16,281 for 10 per cent.

In Darlington, the average house price for a first-time buyer stands at £133,183.

Darlington council area has seen a decrease in the amounts of deposit required by a first-time buyer over the last month and the last year.

Similarly, Middlesbrough, with an average house price of £111,009, showed a decrease in rates of 3.7 per cent monthly and 8.1 per cent annually.

On the other end of the spectrum, County Durham has shown an annual increase of 1.8 per cent and a monthly increase of 0.6 per cent.

Meanwhile, Northumberland witnessed a considerable 7.3 per cent annual increase and a 1.5 per cent monthly rise in its deposit prices for first-time buyers.

In response to the findings, Sam Richardson, Deputy Editor of Which? Money, said: "Knowing the deposit needed for the average property in your area is a vital first step in understanding how much you need to save.

"The Lifetime ISA can be a great account to save into. Your savings are tax-free, and you could also get a government bonus of 25 per cent on your savings to help you buy your first property."

The research comes as PM Rishi Sunak and Labour leader Keir Starmer were asked about the difficulty of getting onto the property ladder in Tuesday's TV debate on ITV.

Sunak claimed that the Conservatives have delivered a million homes since 2019.

Starmer meanwhile, said he would give mayors more powers over home building which he said would help people to own a home.