Best Areas to Buy North East

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  • Best Areas to Buy North East

    hello, looking at buying 3 houses in the north east (typically cheap round here).

    what are the best areas to look at was thinking County Durham up to 60k per house.

    any suggestions?

  • #2
    Your business decision.
    May be cheap for Home Counties LLs to but may be not for NE Ts to rent.
    How much can you afford to lose?

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    • #3
      The best areas are those areas which will show the greatest house-price increases, best rental returns and lowest voids/damages, over whatever period you are thinking (say 3 years, 5 years, 10 years....).

      Sadly until those 3, 5, 10 years are up NOBODY will KNOW which those areas are. Anything else is a guess, probably by someone trying to flog you something (property, courses, clubs,,.....).

      Property is a gamble, a bit like marriage: You don't know until a few years later if it was a good idea or not:

      Artful: On 3rd successful marriage!
      I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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      • #4
        I live in Northumberland and rent property in Newcastle.

        Durham is the same as everywhere,there are really bad areas as well as good.

        But if your looking at property under 60k, then your likely looking at a housing benefit market.

        With the benefit system the way that it is under universal credit I really wouldn't go there.

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        • #5
          There has to be a good reason to buy elsewhere from where you live (if you really think it's a good idea to get into this market, or this particular market subset right now anyway).

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          • #6
            Thanks for the reply.

            i appreciate that 60k may get me housing tennant, but there are some properties available with normal working tennant already in them in bishop Auckland, Middlesbrough etc. I was just after an idea on what area are ok and Ones to avoid? P.S im buying cash

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            • #7
              Be careful buying with a 'working tenant'. Many will of left by the time the sale goes through. I would suggest Sunderland as a decent area. Be careful of Middlesborough and Darlington as there are areas which are difficult to let. Also stay away from many pit villages such as Ferryhill, Some parts of Blythe, Easington etc.... The trouble with the North East is that the bad areas are really quite hard to get tenants to live in the property at all.....some are actually liabilities rather than assets. I much prefer the North West except maybe areas around Burnley which are similar to some in the North East

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              • #8
                Thanks for the info hech123

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