December 2024 Property Market Update for Washington

Washington is a well-connected town in Tyne and Wear, ideally located between Newcastle, Sunderland, and Durham, making it a sought-after area for commuters. Known for its affordable property prices and strong rental demand, Washington offers excellent investment opportunities. Key attractions include the scenic Washington Wetland Centre, abundant green spaces, and local amenities such as The Galleries shopping center.

Washington is absolutely killing it in the property game right now! Prices here have jumped a solid 2.4% in the last three months—compare that to the 0.6% national average.

Back in 2021, you could snag a 3-bed terraced house for around £80k. Fast forward to 2024, and those same houses are going for £100k. That’s some serious growth!

If you’re not thinking about Washington for your next property deal, you’re seriously missing a trick. This place is on fire! 🔥

The biggest driver of growth in Washington though, is the rental market. It's up 5.3% over the last 3 months vs. 2.9% nationally.

NE38: A Red-Hot Investment Opportunity! 🔥

Stanhope, NE38: This 3-bedroom house was rented at £540pcm in 2020. Fast forward to 2024, and it's valued at an impressive £725pcm—a clear sign of growing demand.

Farrier Close, NE38: A 3-bedroom house that rented for £525pcm in 2020 now commands £850pcm in 2024, reflecting significant rental growth.

Waskerley Road, NE38: This is a 3-bedroom house that rented for £515pcm in 2020 and now achieves £725pcm in 2024 showing an excellent growth in rent value.

Why Invest in NE38?

With property values starting from £100,000 for 3 bedroom properties, NE38 offers an exceptional investment opportunity. Yields are as high as 9% combined with strong rental demand makes this area a hotspot for investors aiming for reliable returns and long-term growth.