North East of England to lead house price growth for next five years
While the future may seem difficult to predict right now, the analysts at Knight Frank have been hard at work making projections that account for wide range of variables, based on the most likely scenarios relating to the economy, employment figures and more. Their conclusion? The North East of England is the place to watch if you want to maximise your profit from property over the next five years.
The figures show a likely house price increase of 10.3% for the UK as a whole between 2019 and 2023. In the North East, that figure leaps to 13.6% – the highest rate of any area of the country. The projections bode well for property investment companies and their investors who have been looking closely at cities such as Newcastle-upon-Tyne.
“We’ve seen a real surge in interest in Newcastle over the past year and the latest Knight Frank projections do much to support that uptick. Newcastle is an incredibly vibrant city with a fast-paced business environment and dynamic start-up market. It also offers a wealth of cultural attractions, as does neighbouring Gateshead. With people keen to enjoy all that these urban areas have to offer, buy to let property UK opportunities there absolutely demand keen attention right now!”
Newcastle and Gateshead offer strong market fundamentals
Newcastle and Gateshead face each other across the banks of the River Tyne. The combined NewcastleGateshead urban area is one that has a huge amount to offer and which has seen its population grow steadily in recent years. That growth is predicted to continue at least through to 2041, according to Office for National Statistics figures.
Plentiful investment is keeping pace with the growth, including exciting projects such as the state-of-the-art entertainment arena at Gateshead Quays and Europe’s tallest observation wheel on the Newcastle riverbank.
For property investors, both Newcastle and Gateshead offer strong market fundamentals, with the Knight Frank price growth data stoking further interest. Hadrian’s Tower, in Newcastle, is the ultimate demonstration of the newfound interest in this gem of a city. Its 27 storeys will see it become the tallest building in the city, with graceful, elegant residences that command attention. The superior on-site facilities will see residents benefit from a stunning Sky Lounge with views across the city, a versatile café environment with touchdown meeting points and a 24/7 hotel-style concierge. Investors, meanwhile, can enjoy 7% NET yield assurance and luxury, ready-to-rent furniture packs for the ultimate easy investment.
Across the river in Gateshead, Hopper House is exciting investors with its 8% NET yields. The 81 stylish, contemporary apartments come with a gym, sauna and steam room for residents’ exclusive use, along with an outdoor terrace for making the most of the summer months.
“With the North East rising to prominence in property investors’ eyes, we’re seeing some really exceptional features being built in to the new apartment blocks there. Tasteful interiors and top locations are now being complemented by stand-out amenities that will serve to draw in residents in their droves. It’s an exciting time to be a part of this market.”
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