What’s the best way to sell your home in Newcastle Upon Tyne?
There are so many houses for sale in Newcastle Upon Tyne – all vying for the attention of buyers, how do you sell yours easily? This guide to the local market will give you some clues and help you make your home stand out from the rest. For a regional look, see a property overview for the North East.
At a time when property values were recovering throughout Britain, the Guardian reported that the average price of houses for sale in Newcastle was still falling in the first quarter of 2013. Although there has been some upwards movement in property values, the health of the local market is still rather weak. The RICS predicts house price growth of no more than 1.8 percent annually over the next few years, which is a clear indication of a widening north-south divide. If you want to sell your house fast in Newcastle Upon Tyne, you may need to prepare yourself for a tough time. However, you can bypass the unforgiving open market and allow us to buy your house – without the need for protracted negotiations and endless property viewings.
Why asking price is crucial to how quickly you sell your house in Newcastle
According to the ‘This is money’ website, home prices for homes for sale in Newcastle rose sharply at the end of 2013. However, it is important to view this information in context. These increases probably represent a correction – after unprecedented falls during the last recession. And despite some reports to the contrary, Newcastle topped a league table of houses prices by the city recently. According to This is Money, the average price of a home in Newcastle was just over £183,000 in December 2013, which represented a rise of more than 10 percent on the December 2012 figure. Confused? Well, the entire Newcastle property market is still in a state of flux, and it may take some time to stabilise. The setting of a realistic asking price is essential if you need to sell your house quick in Newcastle.
If you have chosen to pay for the services of a property buying specialist or estate agent, you will receive expert help and guidance for the setting of an initial asking price of houses for sale in Newcastle. However, if you have chosen to go it alone, you will need to perform some research of your own. The best indication of what your initial asking price found through recently sold house prices. Ascertain what properties in your neighbourhood have sold for in the last few months, and you can reach a figure that provides value for both you and potential buyers. Try our free handy property valuation tool which uses sold house price information; similar property transaction data through Rightmove. Official government statistics published via the Land Registry Portal.
Marketing your property in Newcastle Upon Tyne
Newcastle’s real estate market badly hit during that last recession, and the average price of a home fell considerably as a result. There were widespread reports of property prices falling in Newcastle during the first half of 2013. The Times Construction & Property section recently said that Nationwide figures revealed that houses for sale in Newcastle, actually rose by 11 percent in 2013. While this is obviously good news for homeowners in the city, it does point to an enormous amount of uncertainty within the market, so formulating an effective marketing strategy has never been more important if you need to sell your house quickly in Newcastle.
With The Journal’s reports that house prices are once again stagnating throughout Newcastle in 2014, selling a property without the expert services of a property specialist or estate agent is not advisable. Unless you have the time, knowledge and contacts to make a good job of it, you should enlist the services of an estate agent in Newcastle – or a house buying service like that offered by Flying Homes service. Hiring an agent to sell your home may be costly, but making a mess of the marketing of your house could prove far more expensive.
There are some things even the most accomplished estate agent can’t guarantee – namely a final sale price and a definitive timescale. If you need to sell quickly because of a looming repossession, or you need to move quickly for a new job, then consider selling to a cash house buyer. At Flying Homes, we deal with a number of house buying firms who can process the purchase of your property from start to finish professionally and quickly, so that you can give the notoriously volatile real estate market a wide berth.
What is the best time of year to sell a house in Newcastle?
Rather than burden yourself with choosing the most profitable time of year to sell your home, you should alter your house staging and marketing strategies in line with the changing seasons. It used to be the case that more buyers would enter the market for homes during spring and the early weeks of autumn, but such patterns are now far harder to predict. The Home website recently published house sales data for Newcastle upon Tyne, and it revealed that June and November were easily the busiest months of the year for house sales during 2013.
Although you should place your house on the market at the time the suits your personal circumstances, it is a good idea to adapt your home selling strategies according to the time of the year. Depending on how long the days are and what the weather is like, the priorities and wish-lists of buyers could change dramatically. Appealing to those shifting priorities could conjure up a great deal more serious interest in your property.
What factors currently influence house prices for homes for sale in Newcastle?
Despite the fact that home prices in Newcastle are lower than in most of the UK’s major towns and cities, there are small pockets of exceptional house price growth to be found. While the headline figures in 2014 suggest that recent property value growth may be slowing, there are areas of the city that are in high demand. For instance, houses in Grove Park Square in Gosforth are currently selling for more than a £1 million. Similar sale prices recorded in Jesmond and the outlying village of Darras Hall. Unfortunately, the opposite is true in areas of Newcastle such as Benwell, Elswick and Fenham, where property values are still well below their 2007 peak – and showing little sign of improvement.
Property values in Newcastle are influenced by a large number of factors both positve and negative, and most of them are completely out of your control. For instance, if your home is near a high-performing school, parents will see your home as an attractive option – which could push its value up significantly. Of course, no one wants to live in an area blighted by crime, so if your house is in a place with low published crime levels, it could attract a premium on the market. Other factors that can affect home prices include transport links, local facilities, the proximity of electricity pylons and the overriding image of your neighbourhood.
Newcastle transformed over the course of the last 20 years, and with so many new developments in the pipeline, the prospects of new jobs and increased investment into the city are growing. These factors should cause house prices to rise over the coming years – albeit modestly. Newcastle Upon Tyne already has an international reputation for genetics and the training of doctors, which is why its Science City project is gathering pace. A £17 million project announced involving lavish plans for new student accommodation in the city, with further development around St James’ Park football stadium, planned.
About the City of Newcastle upon Tyne
Newcastle upon Tyne is a city in the north-east of England. Located on the banks of the River Tyne, the city is part of a much larger conurbation, which includes Gateshead, North Tyneside, South Tyneside and the larger towns of South Northumberland. With a total population of over 770,000, it is the seventh most populous metropolitan area in the UK.
Newcastle’s origin traces back to the era of Roman rule before the birth of Christ when the area was known as Pons Aelius. However, it gets its name from the 11th-century castle that Robert, the son of William the Conqueror, built. During the Medieval era, Newcastle became a major centre for the processing of wool, and as the Industrial Revolution started to dawn, it developed a reputation as a world-leading centre for the mining, processing and distribution of coal. Some major shipbuilding yards along the River Tyne also gave the area a reputation for building some of the largest and most famous ships of the 19th and the early 20th centuries.
Modern-day Newcastle is a major centre for the arts, technology, research and education. However, the local economy still relies heavily on the services industry, as the coal mining industry, shipbuilding yards and most of the major manufacturing plants have packed up and moved elsewhere. This reliance meant the local economy floundered somewhat during the last recession, and the house price falls in Newcastle and the surrounding areas were amongst the most severe in the UK.
Where is Newcastle upon Tyne?
Newcastle located in Tyne and Wear was once the original seat of power in Northumberland. With Roman roots and centuries of history, there is plenty to do and see in and around the city if British history interests you. Although the castle that gave the city its name has largely vanished, the Castle Garth Keep is still a major tourist attraction in Newcastle. And just a few miles away in Wallsend is Hadrian’s Wall, which was erected by Emperor Hadrian to keep the Caledonians out of southern Britain.
Newcastle has a big reputation for science, research and innovation, and several of the city’s attractions are devoted to these traditions. The Life Science Centre includes a myriad of interesting exhibits and displays that chart the study and discovery of the human genome. The centre is still a leading international research and development facility. You can also tap into the region’s longstanding association with railways and electricity at the Discovery Museum, which includes a display dedicated to Joseph Swan – the man credited with developing electric light (along with bitter rival Thomas Edison).
If history and the arts are what you’re looking for, you will find plenty to explore at the Great North Museum, which displays everything from dinosaur bones to Roman artefacts. There is a huge selection of modern art at the Baltic Centre for Contemporary Art and more traditional works at Newcastle’s Laing Art Gallery.
The last few years have been some of the most traumatic ever for those with houses for sale in Newcastle Upon Tyne regarding declining home values. Although there are signs that the market is now stabilising, there is still a long way to go before house prices reach their 2007 levels.