The average house price in Newcastle is now finally higher than before the 2007-8 financial crisis.
Zoopla, which tracks house prices across the UK's 20 biggest cities, says Newcastle was the final major city in England to reach the milestone.
The average property price in Newcastle in December 2019 was 1% higher than in 2007, at £129,700.
While central London took just two and a half years for house prices to reach the levels they were before the financial crisis of 2007-8, it took 12 years for property prices in Newcastle to recover.
Zoopla linked central London's recovery to oversees buyers taking advantage of the pound's drop in value to invest in London property.
Leeds and Sheffield took under nine years for house prices to rise above pre-recession levels, while Liverpool took just under 12 years.
Richard Donnell, research and insight director at Zoopla, said: "It has taken 12 years for house prices in all English cities to return to their previous pre-crisis levels.
"Some cities returned to 2007 levels within four years, as the economy and job growth rebounded. In others, it has taken much longer as the mismatch between demand and supply has been less pronounced."
Average house prices 20 major UK cities and the increase or decrease since October 2007
- Edinburgh, £242,000, 21%
- Nottingham, £160,200, 27%
- Leicester, £182,600, 33%
- Birmingham, £168,700, 26%
- Liverpool, £122,900, 1%
- Manchester, £173,600, 24%
- Cardiff, £212,600, 24%
- Bristol, £286,300, 46%
- Leeds, £169,200, 14%
- Bournemouth, £290,700, 29%
- Cambridge, £415,300, 53%
- Oxford, £423,900, 50%
- Sheffield, £139,500, 12%
- Newcastle, £129,700, 1%
- Portsmouth, £241,100, 31%
- Glasgow £123,100, 3%
- London, £481,800, 59%
- Belfast £136,600, minus 38%
- Southampton, £228,500, 25%
- Aberdeen, £153,500, minus 10%
