selected branch: Newcastle
If you’re looking to buy a house in Newcastle or Gateshead, one of the most important things to know is how much it will cost you. We’ve used Zoopla data over the last 12 months to put together a list of the average house prices in the area, including the cheapest and most expensive areas, so you can plan your move and make the most of your money.
Gateshead and Newcastle both offer good value for money, although house prices do vary considerably depending on whether you choose to buy in the city centre or in one of the suburbs, as well as the type of house you want to buy – and of course, prices vary between the Newcastle and Gateshead, with Newcastle being the more expensive of the two.
The average property price in Newcastle is £215,833. We’ve broken this down into house type to give you a better idea of how far your money will go:
In Gateshead, the average property costs £148,569. Broken down by property type, that translates to:
The NE44 postcode area is the most expensive in the region. Just over 17 miles to the west of Newcastle city centre, this region includes the villages of Riding Mill and Broomhaugh. These pretty villages have a rural feel, thanks to their proximity to the North Pennines Area of Outstanding Natural Beauty, but are under a 30-minute drive from Newcastle. Those looking to live the country life whilst still having easy access to city amenities will love this region. Houses here average £657,741, which has increased by 45.48% over the last five years.
Another expensive area is the NE18 postcode region, which includes Stamfordham, a small village roughly 13 miles to the northwest of Newcastle. The village has a close community feel, with several sports clubs including Stamfordham Cricket Club, as well as an Ofsted-rated ‘outstanding’ primary school. Properties here cost, on average, £581,316.
The Newcastle suburbs of Jesmond, Spital Tongues and other areas falling under the NE2 postcode region are also highly sought after, with prices averaging £560,441.
Located 9.3 miles north of Newcastle, Ponteland (NE20) is another expensive region. It sits on the banks of the River Pont – in fact, its name literally means ‘island in the Pont’, and although it feels very rural, surrounded by greenery, the village is also a thriving social hub with plenty of independent cafes, bars and restaurants. Newcastle Airport is just under 2 miles to the south of the village. Houses here average £460,159.
Finally, the NE19 postcode region rounds out our list of the most expensive areas to buy a house in Newcastle and Gateshead. This area includes the charming villages of Byrness and Otterburn. Byrness sits roughly 37 miles northwest of Newcastle and is the last village in England before the A86 leads you over the Cheviot Hills into Scotland. Nearby Otterburn is roughly 31 miles northwest of Newcastle and sits on the banks of the River Rede. In this area, houses average £446,104.
The NE37 postcode region is the cheapest area to buy a property in the Newcastle area. This area is just south of Gateshead centre and includes Usworth, Sulgrave and Albany. Here, houses cost an average of £111,351, which is a five-year decrease of 8.27%.
Alternatively consider looking at the NE62 area. This includes the large residential village of Stakeford, around 17 miles north of Newcastle; the small village of West Sleekburn which is located on the south side of River Wansbeck; and the former coal mining village of Bomarsund. House prices here average £114,412.
The NE49 area, including Haltwhistle – located directly in the centre of Britain – is another area to consider for affordable housing. Here, the average house price is £130,561. It’s perfect for nature lovers as it’s located just 2 miles from Northumberland National Park, which covers more than 1,050 square kilometres of Northumberland.
Another affordable area is the NE10 postcode region, which includes the southeastern suburbs of Gateshead such as Felling, Whitehills Estate, Leam Lane, Pelaw, and Bill Quay. Property prices here average £136,572.
Finally, consider the NE11 district, which includes Kibblesworth, just over 4 miles south of Gateshead. This village is served by buses from Gateshead, Newcastle and Chester-le Street. It also includes Dunston, to the west of Gateshead. Properties here average £146,789.
If you’re looking to get the most out of your budget, consider these up and coming areas, which have seen the biggest increase in property prices over the last five years.
The first is the NE64 postcode area, including Newbiggin-by-the-Sea, nearly 17 miles northeast of Newcastle. This coastal town has a lovely beach with the longest promenade in Northumberland. Property prices here average £190,318 which is an incredible 50.40% increase over the last five years.
The other area to look out for is the NE18 postcode region, including Stamfordham which, whilst being one of the area’s most expensive regions, is also one of the ones that’s seen the biggest increase. Properties here cost an average of £581,316 which is a massive increase over the last five years of 48.64%.
Property prices vary wildly across the region. For example, a 3-bedroom detached house currently on sale has a guide price of £775,000 in the expensive village of Riding Mill, whilst a 3-bedroom detached house in the cheaper NE37 area is currently on the market for £145,000.
If you’re thinking of buying a house in Newcastle or Gateshead, there are a range of options to suit all budgets. Prices in Gateshead are generally cheaper than those in Newcastle, so you could find a good deal here depending on where you choose to live.
If you need advice for first-time buying in Newcastle or Gateshead – or if you’re looking for a reliable mortgage broker in the North East – don’t hesitate to contact us today.
We’re experts on all things mortgage-related (and our services are always 100% free).
October 13, 2016
October 13, 2016
