Property trends for NE62

The average property price in NE62 is £148,000, placing it among the cheapest in the country. Over the past decade, prices have grown at 3.6% annually, in line with the national trend. Transaction volumes held steady at 136 sales in the latest full year, consistent with the 10-year average of 137 per year.

Average monthly rent in the broader NE postcode area is £830, notably below the national average. Rents have grown at 4.0% annually over the past decade, close to the national pace. The flat yield currently stands at 6.0%, an improvement on the 10-year average of 5.3%, reflecting a modest upward trend.

Household income in NE62 averages £32,000 annually, substantially below the national average. At 4.7 times income, the price-to-income ratio has tightened since 2016 (4.3x), indicating that affordability for purchase has worsened. Rental affordability has also declined, with the rent-to-income ratio rising from 24.1% in 2016 to 26.2% today.

The population skews notably older, with nearly a quarter aged 65 and over compared to a national average of 19.6%, while those aged 16–24 are markedly underrepresented at 8.8% against 11.0%. Outright ownership is above average at 38.3%, while private rental is well below at 14.5%. The employment mix is distinctive for its above-average concentration in caring occupations (14.4% versus 9.2% nationally) and a notably lower share of professional and managerial roles.