Choosing the perfect location to buy property in the UK involves a lot of factors.
This piece discusses the nature of Rightmove (and other listing platforms) data for Newcastle upon Tyne, aiming to guide your investment decisions.
It’s worth noting that currently, 7 properties are listed for sale and sold on Rightmove in this area every single month so you have an idea of your options to pick from.
We will also go over the properties for rent in the area on Rightmove if you are looking to become a new tenant.
On Rightmove in Newcastle upon Tyne, what properties are available to rent?
Concerning Rightmove, what is the education level like in Newcastle upon Tyne?
In the city of Newcastle upon Tyne, the population stands at 235640 individuals. Among this population, it is noteworthy to consider the educational levels. Approximately 22% of the residents hold a higher-level educational degree.
Additionally, the average household income in the area amounts to £34,802.86. This information is significant for renters, as a higher percentage of degree holders compared to the regional average of 22.6% suggests that your neighbours are likely to be higher earners. While other factors influence neighbour quality too, considering the education level remains beneficial as you’d likely want to be around people you are similar to.
In Newcastle upon Tyne, here’s what Rightmove data says about social rent and affordable housing
Not everyone is inclined to purchase a house and in fact, some people are actually struggling with renting to the extent that they have to rent from the government. According to data scraped from Rightmove and listing portals that are popular in the UK, 22% of individuals in Newcastle upon Tyne rely on government rent and the average household income in the district is £34,802.86.
Always visit an area too to find out what the area is truly like and compare these figures to the national averages of 22.6% (on social rent) and £34,000 (in household earnings per year). Most people prefer to live amongst people where their incomes are similar.
If you are a tenant, perhaps move in as a lodger in an excluded tenancy agreement instead of as an assured tenant. While you have fewer rights, a tenancy may be easier to secure.
To rent a property, the below subheadings go over everything relevant for those looking to rent out a house.
A list of properties for Sale in Newcastle upon Tyne on Rightmove
From Newcastle upon Tyne’s Rightmove data, what are the number of planning permission applications?
In the UK, planning applications result in a success rate of 82% most of the time. In Newcastle upon Tyne, people plan to make modifications to their properties and apply for planning permission with a planning success rate of 86%.
This is interesting data for investors in particular. An above average success indicates renovations are tried and tested and likely an investment from landlords. This is a great opportunity for investors to model what works in the area and do the same. On the other hand, a lower approval indicates there are more ambitious proposals in the area and of the 5 monthly planning applications in Newcastle upon Tyne, property here is more difficult to conduct improvements on.
If you don’t want to deal with planning permission, consider buying a property as a leaseholder which means you don’t own the land and any planning permission is done by the freeholder who owns the land.
If you do this, you will have to look at when a leasehold expires as well as other disadvantages though. However, there are pros and cons of being a leaseholder or a freeholder. For instance, as a freeholder, you may have to evict a leaseholder in a process known as a forfeiture of lease. So, pay attention to the advantages and disadvantages and what path you actually want to go down.
Average sold prices of properties on Rightmove
When exploring the property market in Newcastle upon Tyne, UK, there is a lot of information that can be gathered on listing platforms and on Rightmove. The average sold price across all property types is approximately £142,336, this provides valuable insight into market trends.
Refer to the table below for a detailed breakdown of sold prices across different property categories.
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Investment analysis of Rightmove property in Newcastle upon Tyne
In the area of Newcastle upon Tyne, Rightmove records consistent sales of 7 properties each month, generating an average yearly turnover of 0.49. This turnover is just from property sales relative to the properties that there already are and 3% is the population change over ten years.
All of these pieces of data should be looked at as a whole and considered based on what you are looking for as an investor. For example, if an area’s population is declining and their turnover is above average (22%), it could indicate that there are a large number of people moving out of the area.
Sometimes, you aren’t able to find the right property in your area on Rightmove. So, check out if you want to keep looking in your wider UK region of North East by looking at further houses for sale here.
Is it important to look at yield in Newcastle upon Tyne in further detail?
Rental yield in Newcastle upon Tyne is £0 as of 2023. However, this is not to say that there are not higher yields out there. When the economy was favourable for property in 2018. Yields were as high as 11% in places like Sheffield in some cases. However, an average, yet respectable figure you can expect from a property in the UK is around 4.4% so you can compare Newcastle upon Tyne’s yield of £0 to see if you are above or below.
It is useful to note that even though a property may have a below average rental yield, it can still benefit from capital appreciation over time and this profit can be taken when the property is sold.
How can property investments be made using Rightmove data?
Rightmove data can tell you a lot about the average asking rents of the area of Newcastle upon Tyne. For example, the table below goes over how rents are distributed according to the number of rooms in the property. Also, the national figure for rental yield that is most common is 4.4%. The £0 which is the average yield of rent in the area can be compared for reference.
Read on to see what kind of rent you are looking to charge if you bought a property to see what size is best. Bear in mind as you do so that the average amount of rent that is asked for is £701.
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A city such as Newcastle upon Tyne has a fair amount of houses for sale on Rightmove. In the following headings, we go over all the relevant data related to Rightmove so you can begin the process of buying a house. Figuring out the best type of property to buy is a difficult process so it is useful to see all the relevant information condensed in one place.
In the city of Newcastle upon Tyne, regarding Rightmove, what would it look like living in a HMO?
Prospective tenants should be aware of the average asking price for a House in Multiple Occupation (HMO), which currently stands at no relevant data for this city.
Tenants should also consider how significant, if at all, the saving in rent is when comparing the price to rent in a normal house you do not have to share in Newcastle upon Tyne.
Renting an HMO can provide a more affordable alternative to traditional rental arrangements and for context, there are a predicted 13,500 licenced HMOs in London. In Newcastle upon Tyne, there are 45 for comparison so you are able to tell how abundant this type of property is.
Do not think that all HMOs have to be small rooms with a lack of space either, you also have the option to rent out a HMO with an ensuite. The average rents for this type of room stands at £500.
From Rightmove listings, what is the availability of green space in Newcastle upon Tyne
In Newcastle upon Tyne, the available data reveals that there are 16.8 acres of green space per thousand residents. By comparing this value to the recommended standard of 6, we can gauge the presence of green space in the area using statistics found on listing portals such as Rightmove.
Adequate green space is a valuable asset for all individuals as it has a huge impact on the mental and physical health of residents. Unfortunately, it is often compromised in numerous locations. For instance, in urban settings, the quantity of green space frequently falls short of the recommended measure of 6 acres of green space for every thousand individuals.
Frequently asked Questions
Uncover the typical property asking price in Newcastle upon Tyne through Rightmove data.
The average property price for the UK currently stands at £286,000. In the local area of Newcastle upon Tyne, the average price of a house for sale in the area is £142,336
When utilising Rightmove for finding property in Newcastle upon Tyne, are there any charges to consider?
Landlords should remain attentive to several financial considerations. These may include but are not limited to the costs of running the property, the rate of stamp duty and renovation costs.
Is there a lot of crime in the area of Newcastle upon Tyne according to Rightmove?
The Newcastle upon Tyne community presently experiences a crime rate where 22327% infractions are documented for every 1000 inhabitants. A reference point is the national average of 79.52 incidents for every 1000 individuals. So, if the crime rate in the area is above this figure, there is more crime than usual. If it is below this figure then there is less crime than usual.
What are the house sales per month in Newcastle upon Tyne?
To evaluate what listing portals like Rightmove would infer about the amount of properties that are being sold, consider that 7 properties are being sold every month.
What’s the usual price range for a three-bedroom property on Rightmove in Newcastle upon Tyne?
Properties with three bedrooms command an average asking price of £1,164. This can be juxtaposed with the mean property price of the entire united kingdom which is £286,000. Or, for a more accurate figure, you can compare it to the average price of a three bed property in the UK which is £283,706.