Newcastle is one of the North East’s major cities, contributing £13 billion to the UK’s GVA each year. The city is world-leading in the technology sector with global giants Ubisoft and Siemens calling Newcastle their UK home.
Lower than average property prices but a growing demand for rentals means Newcastle’s property market is rising rapidly, giving investors fantastic returns. In certain prime locations, it’s not uncommon to see yield rates ranging from 5-10%.
Newcastle in Numbers
Newcastle has the largest city population in the North East of England, totalling 314,366 people. The Newcastle Upon Tyne metro area has a population of 809,000.
The city is a dominant force across the technology, offshore & marine, life science and financial sectors. Over 50,000 businesses are registered in the city region.
There are over 50,000 students residing across two city centre university campuses. Plans are in place to increase this to 60,000 by 2030.
Property prices in Newcastle are around 31% lower than the national average and 64% lower than London. Rental figures are expected to increase by 25% in the next two to three years.
25% of the region’s wealth comes from its thriving professional services sector. Professional services account for 130,000 jobs across 17,500 companies across the city.
Newcastle has more than 6500 hectares of developable land.