Tyne and Wear rents vary by £76 from Metro station to station

  • Moving just one Metro stop saves you an average £76 every month – and could save you as much as £579.
  • Jesmond is most expensive place to rent outside of central Newcastle – Byker is still cheapest.

TWM130416

This month’s Tyne and Wear Rent Map from property firm KIS – which shows what the Metro Map would look like if the names of the stations were replaced with the average monthly cost of renting a home there – shows rents varying by an average of £76 from station to station.

Jesmond (£808) beats Tynemouth (£738) to become most expensive place outside of central Newcastle to rent, followed by West Jesmond (£726) and South Gosforth (£700).

Whitley Bay (£650) drops out of this month’s top five expensive places to rent having being fourth most expensive in February. Gateshead (£700) which fell to seventh two months ago returns to the top five in its place.

Byker (£393) is once again the cheapest place to rent, followed by Tyne Dock (£399), Wallsend (£412), Heworth and South Shields (£413) and Fellgate (£425).

The map shows the typical cost per month of renting a two-bedroom property within a quarter of a mile of every one of the Metro’s 60 stations – revealing which areas are Tyne and Wear’s property hotspots and where renters can find a bargain.

The research shows that the biggest single change in rent from station to station continues to occur between Manors and Byker, with a price difference of £579 a month.

The research shows that excluding central Newcastle, the top five most expensive places to rent in Tyne and Wear on a per calendar month basis (last report’s position in brackets) are:

  1. Jesmond (2) – £808
  2. Tynemouth (3) – £738
  3. West Jesmond (1) – £726
  4. Gateshead/South Gosforth (-/5) – £700
  5. Ilford Road (-) – £673

The cheapest five areas to rent on the other hand are:

  1. Byker (1) – £393
  2. Tyne Dock (5) – £399
  3. Wallsend (-) – £412
  4. Heworth/South Shields (4/-)- £413
  5. Meadow Well/Fellgate(-/-) – £425

The largest differences from station to station are:

  1. £579 (Manors to Byker)
  2. £250 (St James to Monument)
  3. £238 (Tynemouth to North Shields)
  4. £190 (Tynemouth to Cullercoats)
  5. £184 (Manors to St James)

Ajay Jagota, Managing Director of KIS and founder of insurance backed deposit-free renting solution D_Lighted responded to the figures:

He said:

“Newcastle has this week been named one of the places where it pays most to buy instead of renting, but if you’re looking to save up the deposit you need to do that it will really help to know where to get the best value rent possible.

“Like every month you can’t help but be amazed by the changes in rent from station to station across the Metro system – just look at the difference of £115 between Bede and Jarrow. It’s just a two minutes by train but a difference of almost £1400 a year in rent.

“What’s also really noticeable is how much average rents can change in an area from month to month. With such a highly-focussed analysis such as ours there’s bound to be a little volatility in the figures, but you can’t ignore the fact that out of the five cheapest places to rent in Tyne and Wear, four weren’t in that list last time we collected this data.

“At the other end of the spectrum, we’ve had months when prices in Jesmond and West Jesmond are all-but identical. This month there’s a difference of £82. Even in our more expensive areas there are bargains to be had if you know where to look.

“These aren’t the only expenses you need to consider with renting either. Rental despot costs can be one-and-a-half times the monthly rent, and even though agents now need to be more transparent with fees, you’ll need to have the cash to cover other move-in costs besides.”

You May Also Enjoy

Breaking News

Where can you still buy a home for under £150k?

Zoopla reveals Great Britain’s property bargain hotspots Just 12 per cent of all homes for sale across Great Britain are priced under £150,000 making location key for home buyers looking for a bargain In the North East, a remarkable 41 per cent of all homes for sale fall within this price range, followed by Scotland…
Read More
Breaking News

Landlord repossessions soar as Renters’ Rights Bill looms

Landlord repossessions soar as Renters’ Rights Bill looms, with some areas seeing increase of over 2,500% The latest analysis from Dwelly, one of the UK’s leading lettings acquisition and success planning experts, shows that landlord repossessions have increased by 6.8% across England and Wales. However, in some areas of the country they have soared by…
Read More
Breaking News

These are Britain’s most active housing markets

New research from The Property DriveBuy reveals that the busiest homebuying postcodes in Britain right now are found in Croydon, Buckinghamshire and Waltham Forest, however, for those hopeful homebuyers facing tough competition, shifting to a neighbouring postcode could see them secure a property. The Property DriveBuy analysed latest housing market data to discover which of…
Read More
Breaking News

Downsizers can bag 2 for 1 on property purchases

The latest research from over-50s property specialists, Regency Living, reveals that downsizing retirees could own two homes for the price of one, combining a comfortable home in England with a sunny escape in Europe. According to Regency Living’s latest analysis, retirees who sell a traditional bricks and mortar house and purchase a park home can…
Read More
Breaking News

New analysis shows majority of estate agents complete HMRC AML registration

Just 5% of branches still need to register More than 24,000 UK estate agency branches have registered with HMRC for money laundering supervision – an increase of around 2,300 branches in just over a year, according to new analysis from client due diligence platform Thirdfort. Some 24,003 estate agent branches across the UK have registered…
Read More
Breaking News

Gen Z could wait until 2044 to buy a home

Getting on the property ladder has never been tougher, and, for Gen Z, it could take up to 18 years to save a deposit in the UK’s least affordable cities, according to new research from Beswicks Legal, comparing 40 urban centres. The figures reveal that in places like Cambridge and London, Gen Z buyers may…
Read More