Newcastle is a vibrant and exciting City with a great heritage and culture. It is home to one of the best supported football teams in the premier league and hosts a wealth of events in the arts, entertainment and culture. The Newcastle investment property market is also on the rise. With a wealth of rich architecture, developers are now renovating as well as building new property which feature high quality interiors in contemporary buildings.
The property market in Newcastle is experiencing an upward movement at the moment. It may be that the lack of new build developments available to buy is the more pressing issue and until this problem is resolved, it is natural that prices will rise. There is a lot to be positive about with respect to the Newcastle property market, and the value for money on offer will always entice a lot of potential buyers. There are good options to buy in the North East but it is likely that Newcastle remains an area where the property market will move slowly.
Buyers are flocking to northern regions as high prices put off first-time buyers and foreign investors in London and while the investment market inevitability goes through its varying cycles, investor interest in the North East continues to thrive in 2017. Although domestic buyers were most prevalent in 2017, we envisage that the ‘buyer pool’ will increasingly diversify in the coming year, especially given the favourable exchange rate.
The negotiations related to the UK withdrawal from the EU will be critical to the North East, with a smooth process likely to ensure economic progress in years ahead. With the strong industrial and manufacturing heritage remaining the significant source of employment in the North East, a favourable global trading platform is required to safeguard jobs and in doing so, aid future prosperity.