Newcastle is a city that has it all – fascinating culture, history, buzzing nightlife, retail and restaurant scenes, great job opportunities, top sports teams…the list goes on and on. Despite its many plus points, this iconic north-eastern city is still very competitive for renting and buying property. But is this about to change? We examine the rental market and highlight some of the best apartments to rent in Newcastle.
Apartments to rent in Newcastle: top-rated developments
If the idea of renting in Newcastle has appeal, then now is the time for a closer look at the market. The following rental-only developments are among the top-ranked in the city. As always, our ratings are determined by the only opinions that really matter – those of the tenants themselves!
Take a look at some of the best apartments to rent in Newcastle. These two developments are emblematic of the quality and affordability of rental prospects in the city right now.
*PLEASE NOTE these rankings take into account how many reviews a scheme has and how recently those reviews have been submitted, so may not match the overall star ratings shown. Buildings with a larger number of more recent reviews are given a greater weighting to reflect current building performance.
Living in Newcastle
Before we dive into the state of Newcastle’s rental market, it’s worth recapping what makes this such a desirable place to live.
Newcastle is one of the biggest and most prosperous cities in the north of England. While shipping and industrial works were the economic lifeblood of Newcastle in past decades, it has reinvented itself as an innovation hub. Today, the city hosts an expanding list of tech-focused companies ranging across the finance, retail, healthcare, pharmaceuticals, fashion sectors. This only scratches the surface, however, as Newcastle is a truly diverse employer.
It’s also a very convenient place to live and work. Newcastle enjoys a well-integrated transport setup, which includes its own metro network with great coverage across the city. Newcastle Central Station is also a sizeable railway hub that lets you access the rest of the northeast easily. It also offers direct links to both London and Edinburgh.
In terms of entertainment and activities, Newcastle is a gold mine. It has a constantly evolving nightlife scene that caters for every taste. From chilled drinks in relaxing wine bars to full-on clubbing extravaganzas, you won’t be disappointed by a night out on ‘The Toon’! Newcastle packs its calendar with outstanding festivals, community events and general goings-on both big and small. The Newcastle Pride Festival, North East International Film Festival, and music festival Hit the North are just a few examples of the kind of shows this city puts on for visitors and residents alike.
Newcastle’s rental market boom
As mentioned, Newcastle is still a highly competitive property market. Rightmove placed the March 2024 average property price for Newcastle at £215,794. With the national average recorded in December 2023 as £285,000 by the ONS, this demonstrates great value for money.
The post-pandemic housing market boom has seen a shortage of available homes for sale. One of the ways Newcastle homeowners are trying to get around the shortage is to sell their home while renting something in the short term. This way, they can cash in on high market prices, and pick their time for buying their next home more carefully.
At the same time, rental properties are becoming even more desirable for young professionals moving into the city. Together, these factors are pushing average rents up in Newcastle, to an average of £995 per calendar month.
Regardless, for now, Newcastle still represents excellent value for money whether you rent or buy.
If the thought of renting in Newcastle has piqued your interest, take a look at our dedicated area guide. Here you’ll find lots of background info on the city, its culture and its upcoming property prospects. Happy hunting!
HomeViews provides verified resident reviews of the UK’s housing developments. We’re working with developers, house builders, operators, housing associations and the Government to recognise high performers and help improve standards in the built environment.
