Are you looking to invest in property in the North East? Considering purchasing a house to rent out to begin or expand your property portfolio?
Newcastle upon Tyne is an excellent city to be investing in houses to rent out with the large student population always seeking private accommodation, a constant flow of professional workers because of the thriving businesses in the local community, and because prices are a great deal more affordable than the bigger cities in the south of the UK.
If you’d like to speak with one of our representatives right away, then contact us, we’re happy to help. If you’d like to learn more about things to consider when you’re buying a house to rent out in Newcastle then learn more below.
Key areas for buy-to-let investments
Rental demand has grown significantly in the past few years all over the city, but if you want to find a tenant quickly, it may be worth investing in one of the following areas:
Just like in any other city, properties in the Newcastle city centre are amongst the most popular, but they can also be quite expensive, so keep an eye out. The average house price in the city centre is a little over £270,000, but rent is quite on the higher side as well. A place with a view over the Tyne Bridge will make for an eve better buy-to-let investment.
Jesmond is known to be a very trendy residential area, with many bars, restaurants, and shops around. This makes Jesmond popular with young adults, be them students or professionals. The average house is just above £223,000, but the popularity of this place will help you find tenants in no time.
If you are looking for family-suited properties, then Gosforth is the place to go to. The area has great schools, many local facilities and easy access to important areas such as the city centre, the Newcastle Airport, and the A1 road. On average, houses are priced at £250,000, but rent prices tend to be 5% higher than in other areas.
Benton and Longbenton
The area holds mostly mid-price properties, suited for families and professionals. It may be further from the city centre, but the Metro network makes commuting very easy. If you are looking for affordable buy-to-let properties, you will be pleased to know that average prices revolve around £144,000 in this area.
Newcastle is blessed with a beautiful seaside, which is a very popular area to live for families and retirees. Prices vary significantly on the coast, depending on neighbourhood, but there are certainly some hidden gems around here.
Sometimes it’s better to seek professional advice
If you have just purchased a property to rent or let out in Newcastle, but are not quite sure what to do now, why not let the professionals from Walton Robinson do the work for you?
Walton Robinson specialises in landlord property management and provides a wide variety of services to ensure you find the right tenants, from arranging viewings to marketing your property, performing inspections, and maintenance work.
You can find how to contact us here.