Independent property consultancy Galbraith says the property market in Northumberland is performing well, with an average premium of 5.87 per cent achieved above the asking price for rural house sales in the first quarter of this year.

The beauty of the region, with its superb coastline, rugged hills and dramatic moors, attracts house-hunters looking to achieve a better work-life balance.

Sam Gibson, head of agency for Galbraith in the north of England  says: “The first half of this year has been characterised by well-motivated buyers who are attracted by the superb lifestyle on offer in the region.

“Northumberland combines exceptionally beautiful and varied natural scenery, with tranquillity and a sense of space. Buyers relocate to the north of England from all over the UK, as well as expat-Brits returning to their roots.

“The market has returned to a stable and positive foundation after a subdued year in 2023.

“The demand for property in Northumberland always exceeds supply by some margin, partly because there has been relatively little new house building in this region compared with other rural counties of England. As a result, well-presented rural homes in an attractive location will always attract a good degree of interest, as long as they are correctly priced. The key for buyers is to take their agent’s advice from the outset.”

One recently agreed sale, Delegate Cottage on the edge of Hexham, combines a graceful traditional stone-built house with outbuildings, beautiful landscaped gardens with wildlife pond and formal areas, as well as woodland and paddocks. The sale attracted several competing bids, with the successful bidder relocating to Hexham from deep in the south west of England.

Sam Gibson continued

Property in Northumberland is rather like Team GB at the Olympics – the region is rather under the radar, but we punch above our weight, with a multitude of natural attributes that make life here the gold standard.

The top 10 fastest-selling areas in the UK were in Scotland and the North of England, according to recent data from Rightmove, demonstrating the positive sentiment among buyers.

The Old School at Capheaton is one recent example of a swiftly agreed sale. The sale was agreed after just 24 days of marketing.

For Galbraith as a whole, sales agreed in July 2024 were significantly higher than in July 2023, with the value of properties sold increasing from £21m in July 2023, to £36m in July 2024, a rise of 71 per cent.

In Northumberland sales of farms and estates also continue to attract significant interest. Private sales are common for woodland, agricultural land and land suitable for livestock.

Galbraith reports that wider economic factors are also helping to boost the property market, with inflation at its lowest level for three years, an improving economic outlook and interest rates reduced to 5 per cent, which will help those securing a mortgage.