The first thing that springs to mind when Newcastle is mentioned, is the distinctive Geordie accent. The second is a city of change and growth. We consider what is attracting investors to England’s most northerly city.
Newcastle-upon-Tyne has long been associated with its hard-working, loyal population, many employed in coal mining and manufacturing. However, things have moved on over recent years, and the city is undergoing substantial redevelopment. It is also on course to become the digital hub of the North, if not all the UK. The main sources of employment are in retail, services, office jobs and tourism.
Large businesses such as Hewlett-Packard and Sage have a big presence here, attracting a highly-skilled workforce. With engineering, medical science and technology thriving in the area, Newcastle is enjoying economic growth. In fact, the North East of England has one of the fastest growing economies in the whole of the UK.
The transport infrastructure in Newcastle-upon-Tyne is excellent and continues to undergo constant improvements. National rail and road links are vital, with approximately 2 million people living within a 30-minute drive of the city centre. A journey to London by train will take under 3 hours.
International links are also well served. From Newcastle International Airport, you can fly to 80 destinations across the UK and Europe, and as far flung as the US and Dubai. Not only is this convenient for local residents, but it is helping to attract an increasing number of foreign students to the area.
Newcastle is the best place for a night out, according to UK students who took part in the Which? University Student Survey 2017. The survey, completed by 8,000 undergraduates across the UK, asked participants how they rate all aspects of their university lives. And it wasn’t just pubs and clubs coming up in the comments, places like the scenic Quayside with its range of restaurants and great atmosphere got a mention too.
Why is this important? Many students choosing which university to attend will look beyond the academic institution. They will consider what their surroundings will offer them in terms of location, things to do, amenities, sporting facilities and so on. If you are considering purchasing a buy-to-let, choosing property in an area attractive to students and young professionals will help to ensure steady rental income.
Newcastle is often found near the top of lists of the best places to live in the UK. It has also been voted as the UK’s happiest city, and the best city for quality of life. With its fantastic sporting events, such as the Great North Run, through to the many art galleries and museums to visit, there is something for everyone here.
Last but certainly not least, property prices in Newcastle are very tempting to buy-to-let property investors. Generally, residential property prices in Newcastle are lower than across the rest of the UK. In fact they are around 37% lower than the national average.
It is clear to see that with all the investment Newcastle-upon-Tyne is currently receiving, the city is a very popular place to live. Combined with the increasing student population, this area can offer exceptional value to buy-to-let investors. High rental yields and good rental demand are certainly on the cards for property investment in this northern city.Back to news