If you’re considering moving to the Newcastle area, you may be researching which areas are the most and least affordable. Newcastle is a big place and is home to many different neighbourhoods that are worth considering when moving to this popular location.
In this article, we’ll take you on a whistle-stop tour of the cheapest and most expensive areas within Newcastle, with some information on Newcastle in general when it comes to being an affordable place to live, as well as some details on the best and worst areas in this popular north-east city.
Where is the cheapest place to live in Newcastle?
The north of England is known for being one of the most affordable areas to live in the country, and Newcastle is no exception.
Within Newcastle, the cheapest areas include Ferryhill and Seaham, with some streets having average property prices of just £12,000. These are some of the lowest house prices in the country, making them excellent buy-to-let opportunities for landlords looking to invest.
What is the most expensive part of Newcastle upon Tyne?
While there are areas of Newcastle that are very affordable, there are also highly expensive neighbours too.
One of the most expensive areas in Newcastle is Gosforth, with streets such as Grove Park Square having an average property price of £1.2 million, and Graham Park Road having average prices of £1,147,500.
Is Newcastle an affordable place to live?
Newcastle is generally considered to be an affordable place to live, with many affordable properties available as well as a low cost of living in comparison with other UK cities.
The average property price in Newcastle is £202,247, which is significantly cheaper than the average property price in England which is £306,000.
The cost of living in Newcastle is also fairly affordable, with primary utility bills sitting around the £130 per month mark on average.
Why is property so cheap in Newcastle?
Property in Newcastle is generally affordable because it’s based in the north of England. Typically the further away the area is from the capital city of London, the more affordable the property, depending on other factors affecting the area and its proximity to a major city.
Newcastle is also considered to be more affordable than other areas because there is good supply and demand for properties. The area is well known for being a key location for heavy industries including shipbuilding and steel-related work, and with a wealth of job opportunities comes the huge need for houses.
This is ultimately why there are many terraced houses in Newcastle, as they can be built to serve densely populated areas and are often more affordable for people to buy.
What are the best and worst areas to live in Newcastle?
As with any area, Newcastle has both good and bad areas within it. House prices often dictate whether an area is considered to be ‘good’ or ‘bad’, but the crime rate is the most effective way of analysing whether a property is based in a good area or not.
Good areas in Newcastle are considered to be Gosforth and Jesmond, with high property prices and lower crime rates than other areas of Newcastle.
The worst areas include the city centre and Arthur’s Hill, with a crime rate of 367, and Byker with a crime rate of 245.
Is Gateshead cheaper than Newcastle?
Gateshead is an area on the south bank of the river Tyne and is generally considered a cheaper area in which to buy than in the city of Newcastle.
For example, a detached house in the Newcastle area costs an average of £342,743, whereas a like-for-like property in Gateshead would cost approximately £244,664,
It is likely that Gateshead is a more affordable area to live in because it is a smaller city than Newcastle, and potentially offers fewer job opportunities for those moving to the area than those that choose to relocate to Newcastle.
How We Buy Any Home Can Help
If you already own a property in Newcastle and are looking to sell, speak to We Buy Any Home. We’re the biggest online property cash buyer in the UK and specialise in helping property sellers get their properties sold quickly, and at a great price.
The process is simple – all you need to do is request a free cash offer for your property via our website and an experienced member of our team will be in touch within 24 hours. They’ll discuss an initial cash offer with you, before arranging for a written quote to be sent to you and appointing a surveyor and legal representation for you – all at our expense.
Once the survey has been carried out a final cash offer will be made, and if you choose to accept you could receive your funds in as little as 7 days!
Get a free cash offer today for your Newcastle property and get the ball rolling on your house sale.
