Gateshead 3-beds: a £90 a month gap inside one borough

Last month we showed you what Gateshead 3-beds are achieving. This time we’ve looked at where in the borough the money is, and at what’s moved since.

📍 New this month: where Gateshead 3-beds earn most

Last month we compared 2-beds. This time it’s 3-beds, and the borough splits in two:

That’s about £90 a month between them, so location can make a difference to what a 3-bed achieves. If yours is in the west and hasn’t been reviewed for a while, it’s worth checking where it sits.

📊 What’s moved since last month

ONS figures are from the 21 October release (August house prices, September rents). Last month’s were from the 16 September release.

Small moves, all in the same direction. The ONS puts Gateshead 3-bed rent growth at 5.9% over the year to September, a little ahead of the 5.7% for all property types.

📈 Six more rent reviews

Here are six more examples from the nineteen rent reviews we’ve completed since August, averaging a 6.5% increase overall - real increases, already agreed:

Increases across all 19 reviews ranged from 1.7% to 10.2%. The 6.5% average is running a little ahead of the boroughwide rent growth figure of 5.7%.

To put that in pounds: on a £750 rent, the average increase we’ve agreed works out at around £49 a month, or £585 a year.

🏠 Investment opportunity we’re marketing

2 Bed Ground Floor Flat, Lambley Close, Sunniside, Gateshead, NE16 - Offers in Region of £108,000 - Tenanted, rent from day 1. Already tenanted at £750 pcm - a genuine ~8% yield, no void period.

Not sure where your own rent sits? Reply with your address and number of bedrooms and we’ll tell you how it compares - annual rent reviews cost landlords nothing with us. And if you’re not local, we handle the tenant conversation, the Section 13 notice and the paperwork for you.