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Jezza

Gateshead On Tyne

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I would be interested to hear if anyone has specific views on the outlook for Gateshead in general and the Bensham area in particular (yes, that’s where I am).

Before anyone says it for me, yes Gateshead is still very much the ugly sister to Newcastle’s Cinderella and its general amenities are appalling (the High Street area is a national disgrace). But alongside the negatives stand a number of more positive factors:

* Proximity to the business districts and entertainment offerings in Newcastle centre – it’s walkable for many people, and easily accessible by transport of all modes.

* Cheaper property – financial migration has already started and white collar types with jobs in the city (my partner and I among them) have been pushed across the river by the exoirbitant prices in Jesmond, Gosforth, Heaton and surrounding areas. Many of the terraced flats are exactly the same as those on the north of the river – solid, spacious.

* Development – it won’t happen instantly, but it’s starting. The High Street, “Get Carter” car park, and indoor market (an original, dyed-in-the-wool hellhole) are all due for demolition and starting again - many of the expired leases on shop units have already resulted in properties closing and which clearly will not open again in their current form. The Co-Op department store is already under re-development and Tesco are heavily involved in the town plan. When these initiatives are complete, the centre will hopefully look like something the locals will want to use for something other than violence and glue sniffing.

* The housing market is liquid and fast moving – boards go up regularly in my street and “go sold” very quickly. There are some lets, but not a lot.

I live off Coatworth Road and it does provide some limited shopping, although the entire area cries out for better food, drink and entertainment facilities. When these arrive, as they surely must on the back of demand from the new demographic mix of residents, the whole place is going to feel better by far. Saltwell Park is already brilliant (and I don’t usually like municipal parks, but this is something else).

I’m pretty positive. I feel the lower prices make the market less vulnerable to shocks in the short term (people shouldn’t be maxed out, even if they’ve bought a two bed flat or four bed maisonette in the terraces at recent prices between £80 and £110K). And in the medium term, the improvement in facilities and rise in owner-occupier numbers should make this area desirable to a lot of people looking for spacious homes close to the centre of Newcastle. Gateshead’s reputation and history may count against it for a while, but the potential is definitely there.

Any thoughts?

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Any thoughts?

My thoughts:

Buy as many properties in gateshead as you can. You're sure to become a millionaire in only 18 months for doing nothing. I'd go for the quayside flats behind the Baltic - maybe a one bedder, a snip at 200K and bound to go up. You even get a lift lobby right outside your front door, so you'll often hear the reassuring noise of the doors opening and closing and your neighbours coming and going. Also there's no annoying grass to cut. Otherwise, try one of the Greensfield flats close to the Hilton - built of prefab wood panels(really environmental) for about 200K also. Some have rooms in which you can almost touch opposite walls simultaneously if you stretch out - just think, you'll be able to market it as "bijou" - there's plenty of people in Gateshead just waiting to rent this from you at £1200 pcm.

Apparently this website is getting renamed as "screwsocietyandgetrichquickwithproperty.com"

Edited by rich1234

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My thoughts:

Buy as many properties in gateshead as you can. You're sure to become a millionaire in only 18 months for doing nothing. I'd go for the quayside flats behind the Baltic - maybe a one bedder, a snip at 200K and bound to go up. You even get a lift lobby right outside your front door, so you'll often hear the reassuring noise of the doors opening and closing and your neighbours coming and going. Also there's no annoying grass to cut. Otherwise, try one of the Greensfield flats close to the Hilton - built of prefab wood panels(really environmental) for about 200K also. Some have rooms in which you can almost touch opposite walls simultaneously if you stretch out - just think, you'll be able to market it as "bijou" - there's plenty of people in Gateshead just waiting to rent this from you at £1200 pcm.

Apparently this website is getting renamed as "screwsocietyandgetrichquickwithproperty.com"

Gosh - someone's bitter! If you look at my posting - and it's the first of its kind I've ever posted on the subject, anywhere on the web - you'll see no reference to my being an investor, which I'm not. I'm a resident and an office worker, and the point of my post was to see what prospects people think there might be for a general rise in living standards in this traditionally less than glorious part of Tyneside.

If I wanted "research" I doubt if I'd go looking for it from a website forum, knowledgeable though many people doubtless are here. But then I guess if I wanted a discussion on how to "screw society and get rich quick" here'd be better places than this too.

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I would be interested to hear if anyone has specific views on the outlook for Gateshead in general and the Bensham area in particular (yes, that’s where I am).

Any thoughts?

I grew up in that area. There are some excellent terraced properties there. Although a great number would still be owned by the Jewish community I presume.

Coatsworth Road still looking a bit run down when I visited last year, but I agree there must be potential for rebirth if younger people are choosing to live there.

Best spot would be as close to park as possible. Shipcote has always been the better end with the library and Art Gallery.

Look at Eastbourne/Westbourne Ave.

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