A city that has been revolutionised, Newcastle often entices investors through its thriving population, ambitious citywide projects and incessant student numbers that have pushed up demands for buy to let property.
Recently, Newcastle has emerged as a key UK city as well as an area brimming with diverse culture and flourishing businesses. This has been built upon its famous industrial heritage. In 2018, the city was crowned the number one ‘must visit location’ by Rough Guide. Since then, Newcastle has attracted visitors from all around the world. Due to increasing student numbers, rising tourist levels and increased graduate retention, the city’s prospects for the future look incredibly strong. It plays a critical role in boosting investment and creating new jobs, which is helping to strengthen the local economy as a result.
Evidently, Newcastle is an ambitious city that is strategically building on its solid past, intending to build an even more prosperous future. Pioneering plans are creating a clear vision of how the city is predicted to grow and develop. In our latest Newcastle investment guide, we have outlined strategic plans showing how drastic regeneration schemes are predicted to adapt to the surroundings and help the city to evolve financially and successfully.
One of the main flagship projects is Newcastle Helix, the city’s £350 million project that aims to fuse various sectors at the heart of the city. The likes of public, business, and academic sectors now have a huge space to stay connected through education and residential facilities. This development is one of the top reasons that more people are flocking up north to Newcastle. Additionally, in late 2018, plans were submitted for Newcastle’s £250 million Urban Village regeneration which seeks to transform a long derelict and prominent brownfield site into a vibrant and sustainable urban community. These projects happening around Newcastle help to expand the economy and allow for capital growth.
Another substantial economic advantage is the number of top-performing universities in Newcastle. These universities bring a high turnover of students every year with many graduates staying in the city after they finish their studies. The graduate retention rate for Newcastle is in the top 10 for cities in the UK. Graduates and young working professionals are perfect tenants to target your rental property too. This means any investor looking at a development in Newcastle can be successful. More than a third of Newcastle students’ stay to work in the city. This allows for investors and landlords to have a consistent number of available tenants wanting a rental property. Essentially, there has never been a better time to invest in an ever-evolving city like Newcastle. The future is bright and clearly set, which means the opportunity for growth is endless.
From the information above, it is evident that Newcastle property investment has far surpassed many other UK cities over the last decade. The city has transformed into one of the most vibrant places in the North East of England and things are looking good for the future. Through reading our latest Newcastle investment guide, you can start to understand the projects that have revitalised existing land space and dramatically changed the skyline through masses of investment.