Newcastle-upon-Tyne continues to be a magnet for young people from across the UK and beyond, not least because of its two highly-regarded universities, but also the wealth of local attractions aimed specifically at this group.
All those considering investment in the city’s property market should therefore recognise the important role of the younger demographic, and also the growing opportunities they have available to them to provide affordable housing in some of the most happening and in-demand areas for young buyers.
With that in mind, here we examine one of the city’s most up-and-coming areas for young people – Newcastle’s waterfront is the place to be, specifically the Quayside and Millennium Bridge.
What does the Quayside have to offer?
Located on the banks of the River Tyne and spanned by the stunning Millennium Bridge, the Quayside separates Newcastle from Gateshead and is a vibrant place full of attractions and history.
Packed with restaurants, bars and great places to visit, the Quayside is one of the most exciting areas in the whole of Newcastle. It’s therefore no wonder that visitors are attracted to this area for fun and entertainment in their droves. Standout attractions for anyone exploring the area include:
It’s not just the stunning architecture, river tours and exciting venues that get pulses racing in the area, though, as there’s also a whole host of stunning riverside properties that catch the eye of young affluent buyers in particular. The area has become one of the most in-demand places to live in the whole of Newcastle, with property prices rising as a result. It means there is growing demand for more upmarket developments, as the flow of visitors and newcomers to the area continues to rise.
Overall, Newcastle Quayside has a reputation for culture and excitement, with plenty to see and do both during the day and at night. It means investors planning new developments in the area will always have strong demand for their properties when they come to sell.
Major projects already taking place
On that note, one of the biggest developments currently in the pipeline for the area is the £200 million development of a new 12,500-capacity arena. Located on a ten-acre site directly opposite the iconic Millennium Bridge, the venue will include a new entertainment arena, a conference and exhibition centre and a hotel, plus bars and restaurants.
It promises to further add to the wide array of attractions that make the Quayside one of the most happening places in the whole of Newcastle. Indeed, Gateshead Council leader Martin Gannon stated that the new project will “play an important role in complementing and strengthening demand for national and international conferences, exhibitions and events at Sage Gateshead and BALTIC, as well as acting as a catalyst for wider investment”.
A fantastic opportunity for investors
With such a vibrant social scene, new projects starting all the time and an accompanying high demand for properties on the waterfront as a result, it means the opportunities for investors in this area are growing all the time. Having undergone a massive redevelopment in recent years, this is a part of the city that is accustomed to growth and is a stunning example of the new face of Newcastle, as a bustling and happening city.
Newcastle continues to attract thousands of students every year, with its two highly-ranked universities – Newcastle University and The University of Northumbria – making this a hotbed for properties tailored to this market. Read more about Newcastle’s student property market, here.
Meanwhile, many young professionals are drawn to the vibrant social scene of the Quayside, and this has helped to further increase demand for new high-end properties in recent years.
Overall, it means that investors keen to secure a swift return on their capital are well placed to take advantage of rising levels of demand for new homes across the city, with Newcastle’s waterfront area in particular a fantastic option at present.