Prospective investors are seeking property investment in Newcastle with the determination to find a property for sale in Newcastle that offers high and stable rental returns and capital growth. Newcastle lives up to this hype. Despite the recession and Brexit Newcastle has managed to increase its economy and attract property investors.
During the last decade, Newcastle became a vibrant city focused on the future and development. This kind of attitude highlights the success and youthful reputation of the city, which has always been very tempting for Newcastle property investors. Even though the population of Newcastle is only 288,000 people, the city connects more than 17 million residents. Newcastle has always been a very well-connected city and as a result, the city’s workforce counts more people than its actual population. The workforce is created by commuters residing in the surrounding areas. This fact means that the city will be able to provide the necessary workforce for its growing business sector. Also, it makes the whole area very attractive for property investors, not only in the city of Newcastle. Newcastle offers affordable property investment options, but for the investors who are looking for lower prices, the city’s surrounding area can be an option for lucrative investment.
There are more than 7,000 companies registered in Newcastle and various industries thrive in the city. The city’s economy was mostly dependent on coal mining, engineering, and shipbuilding in the past. Currently, Newcastle is focused on digital technologies, retail, consulting, and a growing nightlife. It is worth mentioning that all the “Big Four” companies operate in Newcastle and employ over1,300 people. This shift in business power dynamics has a positive influence on the city’s reputation and brings more foreign investment to Newcastle. In addition to the city’s thriving life, other factors contribute to the substantial market of Newcastle property. The increase of investments in the city has had a major influence on its economy, therefore its property and rental market. Newcastle boasts of high rental yields and various property options for prospective investors.
Newcastle’s young tenants are major contributors to the city’s rental market. The student population in the area counts over 100,000 students who are mostly enrolled at Newcastle University and Northumbria University. The student population in Newcastle is growing and creating more demand for rent. As a result of this, most prospective investors are looking into student accommodation and buy-to-let investment opportunities. Student accommodation prices are one of the highest in the whole country, making this particular property type very desirable for investors. There are several neighbourhoods preferred by students in the city, that are increasing and growing annually. Also, the city has seen the growth of student accommodation buildings. The number of students living in the area provides high rental returns for the Newcastle property investors.
The city’s thriving economy with various investments made for its development only contribute to the growth of the property market. Investors can be sure that the value of their Newcastle property will increase in the future. Despite the COVID-19 pandemic average property price has increased by 8.39% since last year according to Zoopla. This trend has not changed in 20 years. The property prices in Newcastle doubled in the last 20 years. In the last 5 years, the average property price increased by 15.8%. Investors can be sure that investing in an ideal property for sale in Newcastle will bring a high return on investment and guaranteed capital growth. Based on Newcastle’s current situation: increasing demand on the rental market, investments in city development, economic growth of the whole region, we can only assume that Newcastle’s property market will continue thriving. It’s a fact that property investors see a high return on investment in Newcastle and have praised the city as the best property investment destination in the northeast.