As a major city in the North East of England, Newcastle has a lot going for it. There are many industries and firms operating in the city centre and numerous industrial as well as retail outlets opening up on the outskirts. Transport links are also very good in Newcastle making it a great place for people to set up as a base for their working life. Newcastle Central Station is one of the busiest train stations in the UK while the local Metro network ensures that people can get in and out of the city easily.
The North East of England and Newcastle in particular is now a vibrant region for technology, medical science, digital industries along with engineering. With approximately 280,000 people living in Newcastle and almost 2 million within a 30-minute drive to Newcastle city centre, many property investors are being attracted here. The city has a growing economy too, highly skilled workforce, a number of excellent universities and first class international links, all great news for landlords.
Property prices in Newcastle
Property prices in Newcastle are very tempting to buy-to-let. In general, residential property prices in the city are lower than the national average, around 37% lower. With the current low house prices, investing in the area is also less of a risk. What’s more, house prices are expected to rise slightly over the next couple of years making investment in Newcastle even more attractive.
With Newcastle’s continuing investment and development, the city is a very popular place to live, especially for young professionals. When combined with an increasing student population, the area offers exceptional value for buy-to-let investors. High rental yields, in some cases as much as 8.41% and increasing rental demands are on the cards for property investment in this popular North East city.
There is an active nightlife in Newcastle and a high volume of students studying in the city. With the two major universities, Newcastle University and Northumbria University, Newcastle is an education hub. Landlords or potential landlords looking to invest here should keep the demands of the student population in mind. There’s a broad range of property available to choose from which means there is a housing option for everyone. Affordable investment hotspot properties can be found in:-
- The City Centre
- Jesmond
- Gosforth
- Low Fell
- Rowlands Gill
- Darras Hall
- Great Park
What Newcastle has to offer
When it comes to the best places to live in the UK, Newcastle is often found at the top of the list. It has also been voted as one of the country’s happiest cities. Newcastle has everything from fantastic sporting events like the Great North Run to art galleries, museums and the world-famous Newcastle Quayside.
Local letting agents in the area are becoming more and more successful as many people are now renting homes rather than buying. This makes it increasingly appealing for potential landlords as it shows there is a demand for affordable, renting housing across the city.