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Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Newcastle upon Tyne, Tyne and Wear.
From the average asking price of houses for sale in Newcastle upon Tyne, to the growth of the population in the area, all will be talked about regarding the city of Newcastle upon Tyne. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
Asking price in Newcastle upon Tyne for a house for sale
When speaking about the city of Newcastle upon Tyne, £167,012 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children in Newcastle upon Tyne would be after a larger house than someone living alone.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
Average price of houses for sale in Newcastle upon Tyne
| Average asking price (1 bed) | £112,941 |
| Average asking price (2 bed) | £123,501 |
| Average asking price (3 bed) | £182,014 |
| Average asking price (4 bed) | £338,842 |
| Average asking price (5 bed) | no relevant data for this city |
The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £0. Telling you what type of house is most in demand relative to the price of the area.
This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Newcastle upon Tyne has a lack of supply of housing in certain categories.
What kind of demographics does the city of Newcastle upon Tyne have?
Have the people of Newcastle upon Tyne grown in numbers?
The city of Newcastle upon Tyne has a total population of 235640. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Newcastle upon Tyne is growing.
A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.
Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.
The five year population change of Newcastle upon Tyne
Over time, in the last five years, the population of the city of Newcastle upon Tyne has changed by 1%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here
In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 1% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.
What is the difference in population over the last 10 years in Newcastle upon Tyne?
In the last 10 years, there has been a shift in the population of 3%.
Comparing this to the 5 year figure of Newcastle upon Tyne can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.
New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.
A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.
In the city of Newcastle upon Tyne, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Tyne and Wear for example.
These demographics for Newcastle upon Tyne may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Newcastle upon Tyne in North East.
What is the social grade score of Newcastle upon Tyne?
In the city of Newcastle upon Tyne and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.
In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.
When trying to determine if the area of Newcastle upon Tyne has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 17%.
Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)
| Social Score | Category | The proportion of the UK population (%) |
|---|---|---|
| A | Professional, managerial or administrative | 4 |
| B | Intermediate managerial or professional jobs | 23 |
| C1 | Supervisory, junior managerial or professional jobs | 29 |
| C2 | Skilled manual workers | 21 |
| D | Semi and unskilled manual workers | 15 |
| E | State pensioners, casual & lowest grade workers | 8 |
How much are those living in Newcastle upon Tyne earning?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Newcastle upon Tyne. Compare the area’s average household income of £34,145.45 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 17% for more conclusive data on the affluence of the area.
Are the people of Newcastle upon Tyne deprived?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Newcastle upon Tyne, currently, £0 people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
How educated are the people in Newcastle upon Tyne?
The number of people as a percentage who have been through university and gained a degree is 22%. The ability to buy a home is greatly influenced by the number of people who have degrees. £34,145.45 is the amount people in Newcastle upon Tyne are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Newcastle upon Tyne, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
In general, do people commit a lot of crime in Newcastle upon Tyne?
In Newcastle upon Tyne, for every 1000 people, there is currently a crime rate of 22327%. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (22327% for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
In the city of Newcastle upon Tyne, is there a lot of green space?
Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.
In Newcastle upon Tyne, 20 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Newcastle upon Tyne.
Are you considering other cities with houses for sale?
Below is a list of towns that differ from Newcastle upon Tyne.
Going over these locations will help you evaluate the different houses for sale across the UK. Whether that be in the same or a very different region to North East:
- grayswood in North East
- balgonar in North East
- bramshill in North East
- attenborough in North East
- aslacton in North East
If you are interested in other cities or even regions of the UK, please visit the following page for more information:houses for sale in the UK it contains all the data related to the houses for sale in our nation.
A house for sale appropriate to your needs
What parameters impact the final price of a house for sale in Newcastle upon Tyne?
Here below is our list with the most important ones:
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House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
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House Location – the actual location of a house for sale drastically changes the final price of a property
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Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.
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Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.
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Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.
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Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs
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Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
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Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.
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Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.
In Newcastle upon Tyne, what do houses for sale tend to sell for?
For the city of Newcastle upon Tyne, the average price a house sells for is £142,336. This value usually depends on the exact location of the house within Newcastle upon Tyne as well as other factors like the population growth which is 3% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £251,586 |
| Aerage sold price (semi-detached) | £147,852 |
| Aerage sold price (terraced) | £123,207 |
| Aerage sold price (flat) | £89,936 |
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Newcastle upon Tyne.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £1,690 |
| Aerage sold price/sqft (new build) | £1,853 |
| Aerage sold price/sqft (old stock) | £1,602 |
Generalising the bottom table, the average value per square foot of a house for sale is £1,690. This value averages all of the types of houses for sale in Newcastle upon Tyne. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Newcastle upon Tyne.
Bear in mind that if you are a landlord looking to buy a property to rent, you will also run into other expenses like letting agent fees and the cost of listing your property for sale on Rightmove in your city.
Who can help you buy a house for sale in Newcastle upon Tyne?
In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.
The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:
- Banks – Lend you the cash
- Insurance companies – Insure your new real estate investment
- Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
- Surveyor – Carries out an independent and complete property valuation of the house for sale
- Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
- EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city
Always consider average rental yield when searching for houses for sale in Newcastle upon Tyne
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Newcastle upon Tyne this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (North East) alongside Tyne and Wear then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Newcastle upon Tyne.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Newcastle upon Tyne | £0 | £701 | £1 | £0 |
| Tyne and Wear | 5.54% | £749.28 | 138.20% | 21.54% |
| North East | 0.05 | 757.25 | £1 | 19.25% |
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Newcastle upon Tyne.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (7) will be useful.
Are there more or fewer houses being built in Newcastle upon Tyne?
Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.
Take a look at the table below for Newcastle upon Tyne that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Newcastle upon Tyne growth rate | -5% | 1% | 10% |
High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Newcastle upon Tyne is important.
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