The industrial powerhouse of Newcastle is the chief centre of the Tyne & Wear county – traditionally part of Northumberland. A city with famous character and culture, Newcastle has always been an important cog in the life of Britain and the United Kingdom – from its historical contribution in sea trade to its modern prominence as the commercial hub of the north.
Today, Newcastle is also home to almost 60,000 full time students, ensuring there is a sustained demand for student property investment in Newcastle and the surrounding areas. Connection to the estuary and coast line made Newcastle an important transport and trade hub during the mid-to-late century, something which has declined since road and rail.
The nearest large city, Carlisle, can be reached in just over an hour – but journey times to Glasgow, Manchester and Liverpool are closer to a 3 hour journey. The city does boast the largest airport serving the North East area, which is also the fastest growing regional airport in the country. Newcastle Central Station represents the main mode of travel, opened by Queen Victoria and designed by Robert Stephenson.
The city of Newcastle has a relatively small population when compared to other northern cities, with approximately 280,000 residents. As a result of its isolation as a city, the population swells on a daily basis as thousands of commuters enter the city from the surrounding area. When taking into consideration the surrounding areas, Tyneside has more than 850,000 residents and the Tyne and Wear county can boast more than a million. The population of Newcastle itself is slightly younger than the national average, largely due to the presence of a thriving student population of around 58,000 of full time students, which gives investors plenty of opportunities for student accommodation investment in Newcastle. With a endless supply of student tenants, high net yields and two major universities, student property for sale in Newcastle is a worthwhile investment for any savvy investor, either from overseas or from the UK.
A multicultural atmosphere throughout the city owes to a comparatively low White British majority of 81.9%, with the remainder made up of a 7.6% Asian population, 2.0% Black and 2.2% Chinese.
Newcastle is most famous for its distinguishing ‘Geordie’ dialect and character, giving rise to a perception of the city as a jovial and vibrant place to live. The major export and icon of Newcastle is the famous Newcastle Brown Ale, whilst Newcastle United Football Club also contributes to the city’s unique personality. Whilst industrial links have lessened since the early 20th century, Newcastle has since become the central hub of the North East area – both commercially and educationally. A number of shopping centres make the city one of the most diverse retail locations in the UK when compared to population.
For more information on any of our student property investments in Newcastle, contact Hopwood House today.