Property Auctions In North East England
There has been an upsurge of interest in property auctions in North East England. Many buyers are choosing this area because of the lower cost of housing and the wide variety of properties on offer.
Recent regeneration of local towns and cities has also attracted investors who can see great opportunities for growth. Buying a house at property auctions in North East England offers families the chance to live in an area where access to the countryside and modern cosmopolitan city life is easily available.
- Country property for sale
- Coastal properties
- Remote property in Wales
- Rural property in Scotland
- Property auctions near me
- London property auctions
Property Prices In North East England
The land registry reported in February 2020 that the average house price in North East England stands at £125,053. This is lower than other regions of the UK making this area a very attractive proposition for investment. The price reflects an annual increase of 0.4%.
Due to the size of the region prices will always vary between cities, towns and countryside properties.
It is important to note that auction property prices in North East England are going to be lower than the prices advertised by estate agents. Current prices for properties in Northumberland can start as low as £15,000 for a 2-bedroom flat but there are also expensive properties.
A 4-bedroom detached house close to the sea will attract a guide price of around £330,000. As you can see, property prices in North East England vary greatly depending on location and the circumstances of the property.
Local Property Auctions In North East England
The counties of Northumberland, Durham and the Tees Valley plus the metropolitan areas of Tyne and Wear are areas where you can look for property auctions in North East England. There is a huge variety of bargain properties including terrace houses in former mining communities, large country homes and modern city apartments.
Property Auctions In County Durham
The cathedral city dominates County Durham which has a border with the North Sea as well as access to beautiful countryside. Property auctions in Durham range from small flats and terrace houses to large country homes.
A 3-bedroom end of terrace house at a property auction in Durham will go for around £65,000 depending upon the neighbourhood and a large 3-bedroom semi can be had for around £100,000. At the higher end of the market a rural large 3-bedroom detached house can cost around £250,000.
Property Auctions In Newcastle
The most populous city in the region, Newcastle Upon Tyne is another good choice when searching for cheap properties. It has one of the largest shopping centres in the UK and a thriving and energetic nightlife.
Property types in the city include the ‘Tyneside Flat’, a form of domestic housing comprised of single story flats within a two-story terrace. A flat of this kind can be purchased for about £30,000 making this an attractive rental option for investors. Newcastle Upon Tyne also has more expensive auction properties particularly in Ponteland where a 5-bedroom house can cost upwards of £1,000,000.
There is also a good selection of repossessed property in Newcastle and so the savvy buyer can attend a number of Newcastle property auctions to get a good idea of prices. Most repossessed houses in Newcastle are listed in the local property auction catalogue.
- Unsold auction property
- Property auctions in Norfolk
- Manchester property auctions
- North West England property auctions
- Property auctions Liverpool
- Yorkshire property auctions
Hexham Property Auctions
The market town of Hexham is linked by road to Carlisle in the west and Newcastle in the East, Surrounded by smaller towns and villages, Hexham offers a stress free environment to live and encompasses a long history in the form of Hexham Abbey and Moot Hall.
A 1-bedroom flat selling at a property auction in Hexham can attract a guide price of about £63,000 and this reflects the higher property prices in this part of North East England. Commuting from Hexham is easy as there are three trains an hour to Newcastle and two trains an hour to Carlisle.
This makes Hexham a very desirable place to look for property auctions and bargain homes.
Property For Sale In Berwick Upon Tweed
The northernmost town in England is Berwick Upon Tweed which is located at the mouth of the River Tweed. This beautiful market town has Georgian houses and modern apartments in the Heritage Quay.
Berwick has an economy that is mostly based on the service sector with shops, health care and financial services being just a few of the jobs available. Served by the East Coast Railway, the town features many different types of property including large 5-bedroom Victorian houses that can cost upwards of £500,000 and a 1-bedroom detached for as little as £60,000.
Middlesbrough Property Auctions
Situated in North Yorkshire, Middlesbrough has an industrial heritage which has left behind an array of smaller properties that can be purchased at auction. Some of the properties needing renovation are being given a guide price of £1,000.
If you are looking for a cheap property for sale in Middlesbrough this is definitely worth consideration. Road and rail links are provided by Northern and Trans-Pennine Express, the A19 which runs North to South and the A66 which runs East to West. As a university town, Middlesbrough gives you options of buying flats or apartments to let out to students.
Property Auctions In NE England FAQ
Is It Simple To Find Property Auctions In North East England?
The easiest way to find property auctions in North East England is to register with local auction houses. However, if you do not have access to their online websites then look in local newspapers in the property section for local auction houses in places like Newcastle, Durham and Middlesbrough.
What Price Are Auction Properties In North East England?
The average price of homes in North East England is £124,053 although properties sold at auction in places like Newcastle tend to sell for less. Houses at auction may be lower or higher depending upon the condition of the property and the location.
Which Areas Are Best To Find Property Auctionss In North East England?
If you want city life, Newcastle Upon Tyne is a good choice when buying an auction property. If you prefer the countryside or coast then Barnard Castle and Scarborough are two excellent prospects. It is worth noting the huge variety of villages, towns and rural locations around North East England where property auctions are held.
Are Repossessed Properties Available In North East England?
Repossessed properties are available in North East England and these can be found on both bank and finance companies websites. You can find them advertised in newspapers and local councils may also have a list of repossessed properties in places like Newcastle which may be up for auction.
Types Of Property Auctions In North East England
The list of property auctions in North East England is extensive with residential, commercial and renovation projects all available. Residential homes can be found in cities, towns and the surrounding countryside.
North East England also has a very good selection of repossessed houses for sale in towns like Newcastle and Middlesbrough. The area is also promising for those looking to buy a property to renovate.
Renovation Property In North East England
Refurbishing a derelict or abandoned property can be a good investment. There is plenty of choice of renovation properties in North East England.
As economies have moved from an industrial trend towards retail or services, the North East of England has a glut of cheap properties that are in neighbourhoods where the industry has now left.
A 2-bedroom terrace house in Middlesbrough ready for refurbishment can be bought for £15,000. There are also larger redevelopment projects available from auction outside the towns. Any expansion plans must have planning approval before work commences.
Repossessed Houses In North East England
Good quality repossessed houses are frequently for sale at property auctions in North East England. Auction houses are constantly updating their lists with empty shop premises, warehouses and many residential properties which have been repossessed.
If you do have a budget to renovate a property then consider specifically targeting repossessed property in Newcastle, Middlesbrough and other population centres in North east England.
Residential Auction Property In North East England
There are many types of residential auction properties in North East England. In towns you can find Victorian Villas, Post War semis and modern flats.
There are also a number of houses previously rented out by Councils and these are often cheaper and larger than more modern houses. Away from the towns there are rural residential auction properties including farmhouses, cottages and former chapels.
Property resources for North East England:
Durham County Council
Council tax rates in Newcastle from Newcastle City Council
Middlesbrough Council and local council tax rates
Some Final Thoughts About property Auctions In North East England
Making the step to go to a property auction in NE England may feel intimidating but if you do your research you will enjoy the experience. Try attending a few property auctions in North East England to get a good idea of the kind of properties which are sold.
This will also help you understand the guide prices for property in the area and the kind of competition you can expect from other bidders at auction.