Newcastle ? Gateshead House Price FACTS

[Bobby Broon]

Straight from the Land Registry! and based on actual selling prices.

Newcastle House Prices
Detached: Nov 2007=£327575 Nov 2008=£294,411 Down £33164
Semi Detached:Nov 2007=£161615 Nov 2008=£145,252 Down £16363
Terraced: Nov 2007=£150746 Nov 2008=£135484 Down £15262
Flats:Nov 2007=£119042 Nov 2008=£106,990 Down £12052

Gateshead House Prices
Detached: Nov 2007=£270,064 Nov 2008=£252,108 Down £17956
Semi-detached: Nov 2007=£148,335 Nov 2008=£138,473 Down £9862
Terraced: Nov 2007=£111,167 Nov 2008=£103,776 Down £7391
Flat: Nov 2007=£76,529 Nov 2008=£71,441 Down £5088

From these figures basically:
Newcastle House Prices are down 10%
Gateshead Prices Down 6%

In essence looks like the Newcastle Gateshead region as a whole are fairing better than the national average fall. BUT Imagine you bought a house for £330k in nov 07 with 100% mortgage. Not good news if you lose your job, as it's now only worth £300k and hard to sell. Looking at these prices and the national average fall maybe we have someway to go yet before the market bottoms. Who knows? In 2002 you could buy a flat in Bensham for £20k

[daveylad]

Gateshead looks to be holding up well. might be because the house prices on the south side of the tyne aren't that high in the first place.

[Darren]

Bobby you spot on, Ive had a look me sel.

What I think should also be mentioned (just in case there are any fantacists reading, thinking prices are still rising or they bought at a good time)

is that House Prices Peaked in the quarter between jan 2008 and april 2008 in tyne and wear. This is shown by facts on the land registry too. So if you bought in this period then Im afraid you will have to wait many years to get any type of increase, Id say at least 10 years.

I bought in 2000 and sold in march 2008 so im laffing.

Only joking--ive never bought , wiish i did though.

[martin R]

You have far too much time onm your hands mate, but well done i have been saying to mates we weren't that badly affected here

[JimmyChew]

Bobby, I hope theyve paid you to get these figures for the Newcastle Gateshead House Prices....


Good Facts though , cheers

[Baldy Bill]

Its like all things me good folks if someone wants a house bad enough they will pay what they have to to get it and unless it is repossesed then if it is popular or a good house then there is likely to be more tyhan one in for uit therefore this means that it keeps house prices up. and of course our house prices aren't as hig as the rest of the country so have less of a way to fall

[martin R]

I think what Bill means is that if you've got a good hoose you'll get wwhat you want for it

[Bobby Broon]

OR....

Bill means what you get for your house is what other people are prepared to pay for it.

When people say to me " My house is worth ......" I have to smile to myself.
It's not the seller who chooses. The potential buyer will choose the price which the seller can say yes or no. But its the buyer in the drivers seat.

In my humble opinion of course..:)