Gateshead’s rental market is thriving and the infrastructure of the area has changed in recent years. Gone is the ‘Get Carter’ car park which made way for the Trinity Square complex, the Metro Centre is celebrating 30 years with continual expansion and the A1 Western Bypass has welcomed its third lane!
Gateshead is firmly on the North East map and landlords would do well to consider extending their buy-to-let portfolio to include this increasingly popular borough.
Average Buy-to-Let yields are at 6.6%, based on latest Zoopla figures, with the NE8 postcode enjoying a 7.8% yield average.
Bensham has benefitted significantly with the professional market since the Trinity Square development. With easy access to Newcastle City Centre and the popular Saltwell Park on its doorstep, Bensham is seeing a rise in demand for two and three bedroom properties.
Latest figures from Home.co.uk reveal that the average rents for two beds stand at £475pcm and for three beds, £495pcm. Three bedroom houses in particular are renting the quickest with the lowest time on the market.
The North East currently ranks second in the UK for rental yield averages and its strong rental market is set to continue.
Here at letslivehere, in addition to Newcastle, we welcome properties in Gateshead and North Tyneside. Our services include let only and fully managed but we can also discuss a management package to suit your requirements. See our landlords section on our website for further details.
If you have a property to rent in the Gateshead area, our team can ensure that it is marketed to its full potential and we offer our ‘no let, no fee’ guarantee as standard. For a free property valuation, click here.
Visualise the recent changes in Gateshead’s landscape by visit the Chronicle’s latest article.