Introduction to Buying, Selling and Investing in Property in Newcastle

Introduction to Buying, Selling or Investing in Property in Newcastle

From Groves Sales & Lettings

Newcastle upon Tyne is a bustling city on the River Tyne, it’s the largest city in the northeast of England. Newcastle offers so much in terms of culture, with theatres, sports venues and eye-catching architecture. There are also multiple universities and hospitals so there is a great demand for quality accommodation.

It’s easily accessible and boasts a train station on the East Coast Main Line, as well as an airport to the north of the city. It's a commuter city to other places such as Gateshead and Sunderland.

You’ll get a good ‘bang for your buck’ as Newcastle is one of the most affordable cities in the UK. While it’s experienced some growth in property prices in the past years, however we feel more is imminent.

Selling your property in Newcastle?

According to Rightmove, Newcastle property prices have experienced significant growth over the past couple of years. Rising 15% (at the time of writing this in 2022) since the previous peak prices in 2019. The majority of properties sold in Newcastle during the last year were terraced selling for an average of nearly £200,000, with semi-detached properties averaging just over £210,000 and detached going for over £420,000.

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A guide to the lettings market in Newcastle

City Centre

This is the hub of the vibrant city, close to all amenities, nightlife and the universities. Everything is a short walk away. Rents usually range from around £65-£140 per person, made up largely of flats and apartments, space is more of a premium in the city.

Jesmond

The unofficial student capital of the north! It offers a more ‘village style’ atmosphere but is still close to the city centre. Students flock here in their droves, there is high demand for both flats/apartments and terraced housing. Jesmond boasts a lovely mix of shops, cafes and nightlife but also the tranquillity of Jesmond Dene offering somewhere for students to de-stress, Jesmond is well placed for both universities and West Jesmond is well placed for the Metro. Rents range from around £60-£140 per person per week.

Sandyford

This is extremely close to the bustling city centre and has close proximity to both universities as well. Rents are slightly lower when compared against Jesmond or the city centre, ranging from around £50-£130 per person per week.

Heaton

Another good location for students and property investors alike, it’s cheaper to buy and rent here. Although a little further out from the city centre it covers a large area and is well connected to the centre by bus and has a great selection of local amenities - rents range from around £35-£95 per person per week and there is a good stock of terraced properties.

Gosforth

A little further away from the hustle and bustle of the city centre but easily commutable with excellent transport links including a couple of easily accessible metro links which lead to the city centre in a matter of minutes. Popular with young professionals as well as students. Rents range from around £55-£100 per person per week for students.

Spital Tongues

Close proximity to both city centre and the university campuses, on the doorstep of Newcastle University and the RVI Hospital. A popular location with fewer student properties available, rents are slightly higher ranging from around £65-£120 per person per week.

Fenham

Perfectly situated for medical students and medical professionals based at the Newcastle General Hospital, further out from the city centre however more affordable. Rents range from around £40 - £80 per person per week.

Northumberland

Despite being the most sparsely-populated county in England, it’s arguable the one with the most beauty. It has breathtaking scenery which includes barley-visted beaches and numerous heratige sites, it really is the North’s best kept secret. If you want to get away from the hustle and bustle of city life, this is the county for you! With Morpeth, Alnwick, Bamburgh. Berwick-upon-Tweed and Seahouses amongst others to choose from - you are spoilt for choice with where to live!

Your guide to Property in Newcastle