Newcastle: an extra bedroom adds £80 to £110 a month

Last month we showed you what Newcastle 3-beds are achieving. This time we’ve looked at what an extra bedroom is worth, and at what’s moved since.

📍 New this month: what an extra bedroom is worth

This time we’ve compared our Newcastle 3-beds with our 2-beds:

Avg. rentSample
All our Newcastle properties
3-bed£83231 properties
2-bed£72422 properties
Like for like: flats only
3-bed flats£7758 properties
2-bed flats£69416 properties

Across all our Newcastle properties, the extra bedroom adds about £110 a month. Comparing flats with flats, it’s about £80.

Allowing for a two-month void each time a tenant leaves, a 3-bed earns around £1,000 to £1,300 more a year than a 2-bed.

More of our 3-bed tenancies are long-running, too: across all our areas, 59% have lasted two years or more, against 49% of our 2-beds. In our experience, families outgrow a 2-bed but not a 3-bed.

📊 What’s moved since last month

Last monthNow
Our 3-bed average£829£832
Average rent, Newcastle (official figures)£1,215£1,220
Average house price, Newcastle (official figures)£208,000£211,000

Official 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 official figures put Newcastle 3-bed rent growth at 8.2% over the year to September, a little ahead of the 7.9% for all property types.

📈 Six more rent reviews

Here are six more examples from the seventeen rent reviews we’ve completed since August, averaging a 5.4% increase overall - real increases, already agreed:

Area / bedsPrevious rentNew rentIncrease
NE4, 3 bed£750£820+9.3%
NE3, 2 bed£640£695+8.6%
NE15, 2 bed£750£795+6.0%
NE4, 2 bed£645£670+3.9%
NE5, 3 bed£735£755+2.7%
NE6, 3 bed£770£785+1.9%

Increases across all 17 reviews ranged from 0.6% to 10.0%.

To put that in pounds: on a £750 rent, the average increase we’ve agreed works out at around £40 a month, or nearly £490 a year.

🏠 Nothing live right now

Acanthus Avenue in Fenham, which we featured last month, is now Sold STC, and we don’t have another Newcastle investment property to show you right now. Our only live Newcastle listing is a vacant 3-bed semi in NE6 at £210,000, aimed at homebuyers. If you want to be first to hear when the next investment one comes up, register for alerts and we’ll let you know as soon as it does.

Not sure where your own rent sits? Send us your details 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.

Check my rent

Or call our Tyne & Wear team on 0191 491 0344.

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