Gosforth Residential Sales Update
Gosforth’s leafy streets, abundance of terraced, semi-detached and detached properties, and excellent amenities makes it the crown jewel of Newcastle areas.
With an excellent high street, this exclusive suburb is well positioned to the north of the city centre with excellent schooling for all ages as well as access to a number of private schools. Popular with families, Gosforth offers strong commuting options including links to Newcastle Central Station and the international airport.
The abundance of well-situated and spacious detached homes in Gosforth contributes to a price premium for house buyers. Detached homes in Gosforth command a 50% premium over Newcastle as a whole and constitute 10% of all sales in the area. Two-thirds of all detached properties sold in Gosforth are between £200-£500k, while a quarter of detached sales are within the premium price bracket above £500,000.
House sales are not confined to detached homes. Around 20% of sales in Gosforth are of flats. Terraced and semi-detached homes each constitute one-third of sales in the area.
Rob Taylor, Managing Partner of Rettie Newcastle recognises the lure of the area for prospective buyers, noting “it is mainly families that are looking in Gosforth there are a number of reasons for that. Two main drives are the type of houses we find there and also the high demand for the three-tier schooling system.”
Gosforth’s popularity with house buyers is clearly underscored by the steady rise of average house prices. The average house price in April 2019 was £230,994, which is 20% higher than the average house price in Newcastle as a whole. More than half of all flat sales in Gosforth are for properties over £200,000.
As an agent with a wide breath of local experience selling properties at all values across Gosforth, Rettie Newcastle is ideally placed to help you on your journey. Whether you are busy professionals looking for a flat or house, a family looking for a house with outdoor space, or wanting to downsize but stay close to the city centre, Rettie will get you there.