Property Auctions in Newcastle

Property auctions in Newcastle
Property auctions in Newcastle represent great value for money in this vibrant and cosmopolitan northern English city.

Property Auctions In Newcastle, England

The prolific number of sales makes buying at property auctions in Newcastle a popular option for house buyers. Whether you want to buy as an investment or intend to make your home in the North East you should be able to find some property bargains.

The population of the city is around 300,000 and you will have a wide variety of Newcastle properties from which to choose. You can find expensive houses but there are also plenty of modestly priced homes.

The prices demanded at sales will depend upon the area you choose and the state of the property. Below is some basic information that will assist you in buying at property auctions in Newcastle.

3 bedroom house at auction in Newcastle
There is a good variety of lots for sale at property auctions in Newcastle, including fairly low priced 3 bedroom houses. Photo © Graham Robson (cc-by-sa/2.0)

Property Prices In Newcastle

In England house prices in the year to January 2020 rose on average by 1.1% but in Newcastle the property market has surged in the last three years and the rise was higher at 1.4%. In the city centre the increase was even higher and in March 2020 it stood at 6%. Demand for properties in Newcastle is increasing so now would be a good time to look at buying an auction property.

In the last year semi-detached houses in Newcastle sold for an average of £194,319 whilst terraced homes averaged at £183,957. As in other parts of the UK property prices in Newcastle are determined by location and the condition of the building.

There are several locations which have been regenerated but which still offer bargain prices for new homes. A studio flat on the up and coming Quayside can be purchased for £82,000 and in the same area you can find a 5-bedroom duplex apartment for as little as £255,000.

Property Auctions in Newcastle FAQ

How Can I Find Auction Properties In Newcastle?

Auction properties in Newcastle can be located by means of the Internet and advertisements in local and national press. Most Newcastle property auctions operate along similar lines and there are plenty of property auction websites.

How Much Are Auction Properties In Newcastle?

Average house prices in Newcastle stand at around £200,000 with smaller homes costing a lot less. Auction properties in Newcastle usually start at a lower guide price. Prices depend on amenities in the area and the size and condition of the property.

Which Areas Are Best To Find Auction Properties In Newcastle?

Newcastle has good transport links by metro so you can choose to look at Gosforth, Byker or Jesmond which are all good areas to buy auction properties. Wallsend is also well served and is another good option for buying property at auction.

Can I Buy Repossessed Properties At Auction In Newcastle?

Yes, repossessed properties are often put up for auction in Newcastle. Both banks and finance companies have lists of properties available. You can also contact the local council for a list of social housing that has been repossessed and is available for auction.

Flats for auction in newcastle
Careful study of the property market in Newcastle allows you to grab excellent bargains, such as flats for sale which may need renovation. Photo © Graham Robson (cc-by-sa/2.0

Where Should You Look For Property Auctions In Newcastle?

The property market in Newcastle is currently very active and growth is forecast to continue. Affordability of housing is key and as well as the city centre there are several areas where you could look for property for sale by auction in Newcastle. Some locations which are suitable for consideration are listed below.

Gosforth (NE2)

A well-established residential area, Gosforth is located on the Great North Road and north of the city centre. There are three metro stations so travelling to the city is easy. Houses in Gosforth can be expensive but properties such as a former council home 3-bedroom maisonette start with a guide price of around £35,000.

Byker (NE6)

Byker lies East of Newcastle city and has a metro stop linking the area to the centre. Formerly known for old Victorian terraced houses, Byker also has maisonettes and a guide price for a 2-bedroom flat starts at just over £30,000. A £25 million regeneration plan has made this area a good prospect for property investment, especially if you plan to become a landlord and rent out your property.

Kenton (NE3)

One of the North West suburbs of Newcastle is Kenton which has a range of residential properties. There is a good mix of traditional 1930s housing and more modern private estates. Kenton Dene is an open area where festivals and events are held. A 3-bedroom semi-detached house in Kenton starts at around £230,000.

Houses for sale in Kenton Newcastle
The Kenton area of Newcastle has good quality properties at reasonable prices, perfect for first time landlords or investors. Photo © Graham Robson (cc-by-sa/2.0)

Wallsend (NE12)

The metropolitan town of Wallsend has a population of around £43,000 and is 3.5 miles east of the city. A big expansion in housing following World War 2 means there is a good mix of properties available. Prices are lower in Wallsend and you can get a 3-bedroom terraced house for a starting price of £80,000. Wallsend metro station give you easy access to the city centre.

Throckley (NE15)

Located 7 miles east of Newcastle the village of Throckley has good transport links and a wide selection of properties available at auction. Terraced houses from the turn of the nineteenth century are located in the High Street and there are plenty of post war semi-detached homes nearby. A modernised 3-bedroom semi-detached house can be seen at auction with a guide price of £105,000. Throckley also has some more expensive properties including large country homes that attract a value of around £890,000.

What Type Of Auction Property In Newcastle Should You Look For?

Urban regeneration means that many older properties have been demolished but you can still find plenty of choice when you search for auction properties in Newcastle. Residential, commercial and derelict or development properties are all available.

Buy To Let Properties For Sale In Newcastle

Any flat, studio or house is a possibility for buy-to-let in the Newcastle area and attending property auctions in newcastle is a great place to start on your property investment journey. If you are not put off by the prospect of renovating a property after you purchase it, then there are healthy profits to be made for prospective landlords.

If renting our property is your intention Newcastle certainly offers plenty of opportunity. After buying a suitable renovation property at auction and renovating it, you can rent the property for a healthy profit simply by studying the local rental market and signing an assured shorthold tenancy agreement with your tenants.

Buy to let property at auction in Newcastle
Newcastle offers excellent opportunities for potential landlords, with buy-to-let properties being sold at auction. Photo © Graham Robson (cc-by-sa/2.0

Residential Property Auctions In Newcastle

A 2-bedroom apartment can be purchased at auction from a starting price of £65,000. Investors will find that an income of £500 per calendar month is the average for this size property. Newcastle has two universities so rental income is easy to come by. A 5-bedroom house can bring in as much as £1,800 pcm.

Derelict Or Development Auction Properties In Newcastle

Homes that are derelict or in need of complete renovation are available in Newcastle. A list of these can be obtained from the council. Some of these development properties come up for auction and the guide price will depend entirely upon the state of the building.

Repossessed Houses For Sale In Newcastle

Another major benefit of attending property auctions in Newcastle is, with careful planning and research, the ability to purchase repossessed property for sale in Newcastle and the surrounding area.

there is an excellent selection of repossessed property for sale in Newcastle, including houses, flats, studios, land and even building plots. Be diligent and try to attend as many house auctions in newcastle as possible, bearing in mind the lots for sale change at every single auction.

Resources for property buyers in Newcastle:
Council tax rates in Newcastle and surrounding areas
Find out more about the city of Newcastle in England


Conclusion: Buying At Property Auctions In Newcastle

You will encounter both seasoned bidders and first time buyers looking for bargains when buying at a Newcastle property auction. Although it is an exciting prospect it is important to go prepared and know the area of Newcastle you are interested in. Stick to a budget and always visit the property beforehand. This will give you a feel for the area.

Terraced houses are often for sale at property auctions in Newcastle
You may be surprised at some of the high quality houses for sale at Newcastle property auctions, often for very reasonable prices. Photo © Trevor Littlewood (cc-by-sa/2.0)

Get a professional property survey and always ensure that you have arranged the necessary finance. Remember that a successful bid means you are legally obliged to buy. There are also stamp duties and VAT to take into consideration.

Newcastle offers some great properties at good prices and with the whole of Newcastle at your disposal you stand a good chance of finding the auction property of your dreams.

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