This is an updated version of a post first published 17th April 2017.
Back in 2014 figures based on Land Registry data, giving averages for each road based on the mean of all non-commercial sale prices in 2014, showed that Newcastle had six of the top ten most expensive streets in the North East of England. All of these streets were in either Jesmond or Gosforth. Osborne Villas, Jesmond, and Elmfield Road, Gosforth, came top in 2014 and both had averages over £990,000.
Are these still the most expensive? With new housing and changing tastes are the traditionally popular areas still topping the list?
Land Registry data shows the average price in Newcastle upon Tyne local authority area was £156,594 (November 2017). Detached houses sold for around £300,000 [How much do houses cost? Jan 19 2018]. So at the top end we are looking at the hottest of hot spots in the city.
- Search Land Registry sold property prices: https://www.gov.uk/search-house-prices
Most expensive houses in Newcastle 2017
It seems Gosforth and Jesmond continue to be where the most expensive houses are in Newcastle. Data taken from the Land Registry shows that in North East England 27 house sales were for over one million pounds [The Chronicle 4 Feb 2018]. The two highest in Newcastle were for large houses in Montagu Avenue and Elmfield Road in Gosforth (both over £1.5m).
The relatively new 29 Mar 2008]. The redevelopment of the site as housing in the Jesmond Dene conservation area was contentious [Jesmond Local video Feb 2012]. The Gothic-style nineteenth-century building, Jesmond Towers, is Grade II listed and has been converted into a private mansion [Historic England listing 1024954; images; Chronicle 24 Oct 2016]. The rest of the site was redeveloped by David Wilson Homes and transformed into a sought after residential enclave. A total of 48 homes featuring renovated and newly-built apartments, townhouses, lodges and detached houses were marketed at prices above £700,000 [Sanderson Young]. Three homes at La Sagesse resold for more than £1m in 2017.private Roman Catholic school in its own 13-acre grounds which announced closure in 2008 for financial reasons [The Telegraph
Top ten streets Spring 2017
The Newcastle Chronicle used Zoopla in 12 March 2017 to locate the top streets [article superseded Dec 2017]. Zoopla uses Land Registry data and adjusts this to give a current average property value based on their current estimates; it is reasonably accurate. Houses in The Grove, Gosforth, (above) sold for an average of £590,375 in the previous 12 months and Zoopla put the current average value at £625,531 [Zoopla search 17 April 2017].
Five of the top ten in March 2017 were in Newcastle and all of those were in Gosforth. Elmfield Park came in at £1,088,576 withjust behind at £1,079,198 and at £934,937. d Elmfield Road also made the top ten. Surprisingly no other street in Newcastle made the list in March 2017; there were none from Jesmond!
However, according to a Lloyd’s Bank report Jesmond continues to be popular with professionals with house buyers prepared to pay £73,700 more than average to live there, compared to the surrounding areas, making it one of the hottest property spots in the country to live in. Property in Jesmond costs on average £268,877 while for the city as a whole it is £195,177 – a 38% premium [Chronicle 17 April 2017].
Don’t be deceived by averages. Although there were currently houses for sale above the million mark on Zoopla (17 April 2017) the highest prices being sought tend to be for properties in Ponteland and Woolsington just outside the city boundary. Some detached houses in Fenham and Heaton were also being marketed at over £700,000, so the picture was perhaps more varied in March/April 2017 than the top ten suggested.
The Chronicle’s news articles covering Tyne and Wear, Northumberland, and County Durham, have galleries of images of these streets and details of average sales value:
- The high-end streets where the priciest houses were sold up until October 2017 (Newcastle Chronicle 4 February 2018) https://www.chroniclelive.co.uk/news/property-news/newcastle-northumberland-most-expensive-houses-12376455
- The ten most expensive streets for property in the North East based on a Lloyds Bank list. (23 Dec 2017): http://www.chroniclelive.co.uk/news/property-news/top-ten-most-expensive-streets-12727804