5 reasons to invest in the area – and how we can help
Welcome to the Villabela Properties Property Blog, the place where North Tyneside and Newcastle upon Tyne landlords, landladies and homeowners can find useful information, advice, insights, resources and inspiration for owning, renting out, buying, sourcing and refurbishing property in the area.
This month we are giving you 5 very good reasons to invest in the North Tyneside Newcastle upon Tyne area!
1. Prices are stable
Firstly, house prices maintained in North Tyneside over the last 3 months of 2015. Land Registry data from August 2015 - December 2015shows that the average price of property in North Tyneside rose from £123,860 in August to £125,147 in September. Throughout October to December, it has hovered around the £126,500 mark.
In Newcastle for the same period, average house prices have fluctuated around £121,000.
2. Potentially better yields
Whilst inflated prices in London and other major cities are reducing yields to 2-3%, in North Tyneside and Newcastle, you can expect better returns.[SH1]
3. A booming student population
If you are looking to invest near one of the several colleges or universities in the area, then a student let may make sense - a recent news story reported how one in 17 homes in Newcastle city centre are now occupied by students!
It is also estimated that 6% of the housing stock in the area is student accommodation – making it one of the highest proportions in England!This means you could take advantage of the demand for quality student lets.
4. Avoid Stamp Duty Tax and fix your BTL mortgage interest rate
Buy before April in order to potentially pay less in Stamp Duty Tax (see our article on how to save £7,500 on your property purchase costs) and also take advantage of the current low interest rates for buy to let mortgages.
5. Investment in the area
As we have previously reported, there is a lot of investment in the North Tyneside and Newcastle areas, which is great news for investors. As a snapshot...
- Whitley Bay Leisure Centre is currently undergoing a £300,000 investment
- £7.2m is being invested in the highways, benefitting motorists, cyclists and pedestrians
- There is £36m worth of new investment to re-invigorate the Whitley Bay area between St Mary’s Lighthouse and Cullercoats Bay
- Newcastle upon Tyne is one of the Core Cities defined as ‘the largest and most economically important English city outside of London’. It has recently undergone a huge regeneration and is now a cosmopolitan, vibrant area.
- The coastline is home to a number of lovely seaside towns, including the famous Whitley Bay. With its sandy beaches and lots to do see and do, it is a small town that is still just 25 minutes away from Newcastle city centre on the Metro.
- Historical Northumberland is to the North, with a quarter of the county being protected as theNorthumberland National Park. It is not only a beautiful county but is an area with a significant presence from pharmaceutical, healthcare and biotechnology companies.
- Travelling around the area is easy, with 14 Metro stations across North Tyneside, linking the area directly Gateshead and Newcastle. The Tyne Tunnel or Shields Ferry give access under / across the river while the Port of Tyne at North Shields is the gateway to Scandinavia and The Baltics.
At Villabela Properties Ltd we are here to help you through your property investment journey from sourcing your investment; putting you in touch with financial advisers and solicitors if required; and being there every step on the way to completion.
After that, if you so wish, we can assist with property refurbishment, vetting and finding tenants, as well as managing your investment.
We are your experienced local, property experts, offering you a bespoke, professional and friendly service to suit your needs. We have a wide range of services, lots of advice, and can be as hands-on as required.
So, why not call us - Gary Abela or Pamela Ferguson - for an informal, no obligation chat on 0191 2621260 or 07958 258914?
We can discuss your requirements and assist you on your exciting property investment journey!
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