At a Glance
Average Property Price - NE38
£199,717
12
National percentile
Average Monthly Rent - NE
£830
23
National percentile
Average Net Household Income - NE38
£36,616
41
National percentile
Flat / Maisonette Yield - NE
6.0%
74
National percentile
10-Year Annualised Price Growth - NE38
2.0%
9
National percentile
10-Year Annualised Rent Growth - NE
4.0%
54
National percentile
Property Price & Volume Trends
The average property price in NE38 is £200,000, placing it well below the national average—among the cheapest areas nationally. Over the past decade, prices have grown by 2.0% annually, a significantly slower pace than the UK average, reflecting the area's limited price appreciation. Transaction volumes have eased slightly, with 321 sales in the latest year compared to a 10-year average of 360, suggesting a modest softening in market activity.
Rent & Yield Trends
Rental costs average £830 per month, below the national average. Rents have grown at 4.0% annually over ten years, matching the national trend. The flat yield stands at 6.0%, up from a 10-year average of 5.3%, indicating an improving return for landlords in recent months.
Income & Affordability Trends
Average household income is £37,000, slightly below the national median. The price-to-income ratio of 5.6x has improved marginally since 2016 (when it stood at 5.7x), suggesting modest gains in purchase affordability. Rental affordability has softened: the rent-to-income ratio has risen to 26.2% from 24.1% in 2016, reflecting faster rent growth than income growth.
Resident Demographic Profile
The population is notably older than average, with 22.7% aged 65 and over compared to the national average of 19.6%, and a below-average proportion of young adults aged 16–24 at 8.6%. Social rented housing is significantly more prevalent at 23.4% against the national average of 16.5%, while private rental tenure is markedly lower at 11.7%. The employment profile shows above-average representation in administrative roles (12.6%) and elementary occupations (11.0%), alongside below-average numbers in professional positions (16.2%).