Newcastle Property Market and Real Estate Guide
(Newcastle, Tyne and Wear, England, UK)
Newcastle is widely considered the premier city to live within the English north-east. It is inherently friendly, comes with a good infrastructure and has a busy international airport, and prices here are relatively cheap on a UK-wide scale. Newcastle has a big city feel, yet is compact and surrounded by a number of intriguing suburbs and towns.
It can be a good investment buying in Newcastle, although you need to pick the right area. In general, the areas to the north of town are the nicest, while the east and the west are less desirable. The affluent Jesmond district in the north-east is a popular place to buy, as is Gosforth, while Cowgate and Byker are best avoided by expats.
For apartment rentals and purchase, the Quayside in downtown Newcastle can't be beaten and has a collection of riverside loft conversions, although expect prices to be in line with small homes in the outer districts, which are often preferred by families.
Renting Serviced Apartments
Newcastle has a large amount of apartments, and the Quayside area is an exciting place to live. This is where the majority of serviced apartments in Newcastle reside, along with the city centre. It is relatively pricey here, while Osborne Road and Sandyford Lane have cheaper options.
Serviced apartments in Newcastle, particularly those in the Quayside area, feature modern facilities and range from studios up to two-bedroom places. Fully fitted kitchens, TVs and wireless Internet are standard.
Leases typically go from six months through an agent, although you can negotiate shorter terms with owners. A security deposit of two months is typically required.
Buying Apartments and Houses
Foreigners can buy apartments and houses in Newcastle with no restrictions, as with the rest of the UK. The best deals can be had across into Gateshead (south), and in the west and the east of the city, although northern Newcastle is one of the nicest areas for expats to be based and offers the best investment opportunities.
There are various charges to be aware of when buying in the UK, such as solicitors' fees, estate agents' commission and stamp duties. The latter is on an incremental scale dependent upon the value of the property.
Real Estate Agents
Making use of a real estate agent in Newcastle is a must for those buying from outside the UK, and even for UK nationals. Agents are generally professional and offer good service and can advise on the ins and outs of buying in the area as well as market conditions.
It is best to choose one with significant experience of property in the area and an extensive portfolio. Although not a given, any real estate agent worth their salt will have a decent website.
Here are a few examples of Newcastle real estate agents:
Address: 179 High Street, Gosforth, Newcastle upon Tyne, England, UK
Tel: +44 0191 2859024
Andrew Craig has branches across the region and is a family-owned real estate agent providing quality houses and apartments.
Address: 28 St. Mary's Place, Newcastle upon Tyne, England, UK
Tel: +44 0191 221 0404
Yetholm Properties is a specialist letting firm with a burgeoning portfolio of houses and apartments in Newcastle and the region.
Rook Matthews Sayer
Address: 1st Floor Victoria House, Hampshire Court, Newcastle Business Park, Newcastle upon Tyne, England, UK
Tel: +44 0191 286 9231
Rook Matthews Sayer boasts 17 offices in the north-east to provide exceptional service for sales and lettings.