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Do you find the Newcastle residential property market attractive for making an investment? This city is one of the most unique metropolises in the UK, as its centre is surrounded by as many as eight beaches. It’s not only the sea that makes Newcastle charming, but River Tyne enhances its charm as well.
The advancements in infrastructure and the established universities make it an attractive destination for students and business professionals. There is an extensive range of districts favourable for real estate investments.
Make sure you learn more about the Newcastle residential property market.
Newcastle offers a variety of areas suitable for buy-to-let investments. There are numerous Newcastle property investment options available in this fast-growing city. One of the first areas to consider is the city centre, which is home to 10,000 residents. Capitalists interested in a real estate investment in this part of Newcastle are advised to purchase a flat or a house overlooking the river and the Tyne Bridge. The centre city area provides an excellent rental yield of 8% while the average house price is about £273, 000.
Jesmond is another popular residential area for investments, full of shops, fashionable bars, and classy restaurants. It’s attractive to students, professionals, and families, which is great news for investors. The average rental yield in this region is approximately 4 %, but landlords letting flats to students usually enjoy higher yields. The standard house price in Jesmond is a bit lower in comparison to the city centre, being £223,000.
Gosforth, on the other hand, is an incredibly popular suburb for property investments. It’s pricier than Jesmond due to the access it provides to the heart of the city. This residential area offers good schools, as well as excellent transport links, referring to the Newcastle Airport and the A1 road.
Additionally, the usual rental yield in this suburb is a bit higher than Jesmond, about 5 percent. The same goes for the average property price, which is approximately £250, 000. Investors who consider Gosforth pricey can invest in Kenton, a nearby but less expensive suburb.
Benton and Longbenton is another attractive district in Newcastle, best suited for families. Benton refers to the older part of this area, whereas Longbenton refers to the one built afterward. Although further from the city centre, Benton and Longbenton provide residents with an opportunity to use the metro network. Hence, commuters won’t have a problem with travelling to the other side of the city. Go to this website to check out a metro map of Newcastle.
Furthermore, this district is the best alternative for investors looking for a less pricey investment but hoping for a good rental yield. Property prices are much lower, the average being £144,000, while the yield can be as high as 5 %.
The east and west of this metropolis are the lowest-cost areas to invest in, particularly the west. The price of houses in the east is normally £134,000, while that in the west is £75,000. In terms of rental yield, the former is above 8%, while the latter is no higher than six percent.
The coast of Newcastle is mostly inhabited by families and retirees. Given the size of the coastal area, not all parts offer investors budget-friendly deals. For instance, properties in Tynemouth are usually priced at about £290,000 in contrast to those in North Shields, which normally have a price of about £150,000.
The Newcastle University and Northumbria University attract thousands of international students annually, thus boosting the demand for buy-to-let properties. Both universities have a positive effect on the local economy, which grows rapidly.
In addition, the infrastructure performance of this city has improved dramatically over the past few decades. The railway and tramway advancements enable residents to connect to the outskirts of the metropolis, as well as other parts of the country. Additionally, the planned HS2 railway network is expected to improve national transport significantly, linking the north to the south of the country. The following link, https://www.bbc.com/news/uk-16473296, provides details about the HS2 transport project.
You won’t make a mistake by investing in Newcastle real estate.
The opportunities are endless!