At a Glance
Average Property Price - NE24
£167,313
5
National percentile
Average Monthly Rent - NE
£830
23
National percentile
Average Net Household Income - NE24
£32,470
16
National percentile
Flat / Maisonette Yield - NE
6.0%
74
National percentile
10-Year Annualised Price Growth - NE24
2.5%
16
National percentile
10-Year Annualised Rent Growth - NE
4.0%
54
National percentile
Property Price & Volume Trends
The latest average property price in NE24 is £167,000, placing it among the cheapest areas nationally. Over the past decade, prices have grown at 2.5% annually — significantly below the national rate — indicating relatively modest capital appreciation. Transaction volumes have softened recently, with 472 sales in the latest full year against a 10-year average of 630, suggesting a modest slowdown in market activity.
Rent & Yield Trends
Average monthly rent of £830 sits below the national average. Rental growth has tracked the national pace at 4.0% annually over the past decade, maintaining steady demand from tenants. The flat yield currently stands at 6.0%, notably above its 10-year average of 5.3%, reflecting improved returns for buy-to-let investors in recent years.
Income & Affordability Trends
Average net household income of £32,470 is significantly below the national average, positioning the area among lower-income regions. The price-to-income ratio of 5.0x has improved from 5.2x in 2016, suggesting properties have become modestly more affordable relative to local earnings. Rental affordability has tightened slightly: the rent-to-income ratio has risen from 24.1% in 2016 to 26.2%, indicating rent now absorbs a larger share of household income.
Resident Demographic Profile
The population is notably older, with those aged 50–64 and 65+ both exceeding national norms; conversely, the 16–24 age group is underrepresented. Housing tenure shows a higher share of social rented properties (23.6% against 16.5% nationally) and lower private renting (19% versus 21.7%), reflecting a more mixed-tenure profile. The employment mix is distinctive for above-average representation in caring roles (12.7% versus 9.2% nationally) and a lower share of professionals and managers, typical of areas with stronger manufacturing and service-sector bases.