Newcastle has a lot of job opportunities and a friendly Geordie culture.
It has a rich history and a thriving economy, resulting in many people choosing to buy and sell property in the area.
But is it a good time to buy or sell in Newcastle right now?
In this help guide, we’ll explore this question and provide you with an overview of critical elements of the Newcastle property market, including:
- Average house prices
- Why people are buying property in Newcastle
- Reasons people may be selling up
Are house prices falling or rising in Newcastle?
On average, house prices in Newcastle have decreased over the last year. Prices decreased by 3% between April 2023 and April 2024.
However, the average current price of a property in Newcastle is £214,096, which is similar to 2021 price of £214,673.
This suggests that house prices have remained stable over a longer period. This knowledge is more valuable than basing decisions only on price decreases in the last 12 months.
There are many reasons why property prices have decreased in the last 12 months, such as the rising cost of living and increasing interest rates.
Why are people buying property in Newcastle?
There are many reasons why people are choosing Newcastle for their next property purchase. Read on to learn about these reasons in detail.
Affordable housing
Newcastle’s housing is generally more affordable than that of other UK cities, making it a great choice for people looking to relocate to a new area.
Take a look at the data below, which compares property prices in major UK cities and shows how Newcastle is an appealing option for a cheaper property price.
| Area | Average Property Price |
| Newcastle | £214,096 |
| Manchester | £296,989 |
| Liverpool | £235,000 |
| London | £597,446 |
| Edinburgh | £335,958 |
Strong rental demand
Newcastle has a strong rental demand, with a growing student population and young professionals moving to the area for job opportunities.
Investors know there will be a demand for rental properties, which is a crucial reason they buy property in Newcastle.
Cultural amenities
Another key reason people move to Newcastle is the wealth of cultural amenities on offer.
Newcastle offers a range of appealing features, including a mixture of urban and rural environments, a rich in history and busy tourism sector,
Famous sites in Newcastle include:
- Newcastle Castle
- The Keep (another castle)
- Angel of the North
- St. Nicholas’ Cathedral
And more
Why are people selling in Newcastle
While Newcastle is a popular area to live in, some people are selling properties there. Here are some of the main reasons why.
1. Life changes
Life is rarely straightforward, with divorce, relocation for work, or downsizing being key reasons people may choose to sell their properties and live elsewhere. This is a crucial reason Newcastle property owners may sell their homes and relocate.
2. Financial reasons
With the rising cost of living and mortgage interest rates, it’s unsurprising that some people are selling their Newcastle homes for financial reasons.
A property is a large financial asset and may need to be sold if a person finds themselves in financial difficulties.
3. Inherited property
Another reason why someone may sell a property in Newcastle is if an inherited property is involved.
Inherited properties often lead to sales, mainly if the inheritor lives elsewhere or prefers to sell the property rather than reside there.
Is it a good time to buy a house in Newcastle?
Newcastle’s property prices are currently stable, which indicates that now is an excellent time to buy a house.
There is also a strong demand for rental properties, so now would be a good time to buy a Newcastle property as a buy-to-let.
If you’ve got your heart set on moving to Newcastle, this blog will provide guidance on everything you need to know before moving!
Is now a good time to sell a house, or should I wait?
Whether now is a good time to sell a house or not is largely down to individual circumstances.
However, with house prices remaining stable since 2021, it could be said that now is a good time to sell, particularly with signs that houses may drop in price, according to 2023 data.
How We Buy Any Home can help
If you’re looking to sell your Newcastle property but are unsure where to start or need help figuring out where to start, speak to We Buy Any Home.
As the UK’s largest cash property buyer, we have many years of experience purchasing Newcastle homes for cash, generally resulting in a quick sale for our property sellers.
There are no hidden fees, and our trusted team of experts will be with you throughout the process to ensure the sale goes through as seamlessly as possible. You’ll also be able to choose a completion date that suits you, a perk that would be very unusual when selling on the traditional property market.
Get a free cash offer for your Newcastle property today — you could receive your property funds in just seven days!
