At a Glance
Average Property Price - NE47
£312,180
46
National percentile
Average Monthly Rent - NE
£830
23
National percentile
Average Net Household Income - NE47
£35,937
37
National percentile
Flat / Maisonette Yield - NE
6.0%
74
National percentile
10-Year Annualised Price Growth - NE47
3.8%
60
National percentile
10-Year Annualised Rent Growth - NE
4.0%
54
National percentile
Property Price & Volume Trends
The latest average property price is £312,180, slightly below the national mid-point. Over the past decade, prices have grown at 3.8% annually—a pace broadly in line with the national average. Transaction activity has cooled: 80 sales were recorded in the latest full year, down from a 10-year average of 106 per year.
Rent & Yield Trends
Monthly rental costs average £830, considerably below the national average. Rents have grown at 4.0% annually over the past decade, a pace close to the national trend. The flat yield currently stands at 6.0%, notably higher than its 10-year average of 5.3%, reflecting improved returns for buy-to-let investors in recent years.
Income & Affordability Trends
Average household income is £35,937, below the national average. The price-to-income ratio has widened to 8.7x from 6.8x in 2016, indicating that property has become less affordable relative to local earnings. Rental costs have also become a heavier burden, with the rent-to-income ratio rising from 24.1% to 26.2% over the same period.
Resident Demographic Profile
The population is notably older than national norms: over a quarter are aged 65 and above, compared with the national figure of 19.6%, and only 7.2% are aged 16–24, well below the 11.0% national average. Housing tenure strongly favours outright ownership at 45.2%, far above the 33.7% national average. The employment mix is distinctive for its high proportion of trades workers at 16.9% and managers at 15.8%, reflecting the area's rural and small-business character.