Hullo there! Darren Medland here. I was wandering down the High Street in Wallsend earlier today, dodging a few raindrops and watching the world go by. It struck me just how much this little corner of the world is buzzing right now. Whether you’re grabbing a coffee near Hadrian Road or taking the dog for a blowy walk around the Rising Sun Country Park, there’s a real sense of energy in the air.
I was chatting with a young couple recently—let's call them Sarah and Tom. They’ve been looking for their first home, moving out from their parents' place in Battle Hill. They told me that every time they see a "For Sale" sign pop up near Holy Cross or Willington Quay, they feel the weight of the competition. They aren’t wrong! If you’ve felt like there is a high level of market activity lately, your gut feeling is spot on.
Understanding Local Stock Levels
Right now, NE28 is firmly in what we call a "Seller’s Market." But what does that actually mean for you? Well, imagine you’ve baked a batch of your favourite scones for a school fayre. If you’ve got 10 scones and 30 hungry people waiting, the competition for those scones is going to be incredibly high. That’s the state of the NE28 property market right now.
We currently have a Demand Rating that favours sellers, meaning there are more people looking to move into the area than there are houses available for them to buy.
The Magic Number: 3.8
There is a specific number we estate agents look at to measure the balance between supply and demand. In NE28, the ratio of available housing supply relative to recent sales has just tightened from 4.2 down to 3.8.
Because this figure is well below the six-month mark—which is generally considered a "balanced" market—it tells us the ball is firmly in the seller's court. Choice for buyers is narrowing; we actually have 6 fewer homes on the market than we did last month, bringing us down to 128 properties total across the whole postcode. When you consider that we’re seeing an average of 33 sales every single month, you can see why the shelves are looking a bit bare!
Did you know?
Here’s a little surprise for you: while the average house around here sells for about £143,323, we’ve seen some incredible activity at the top end lately. For instance, Marine Park House on Hadrian Road recently fetched £840,000, and a lovely spot on Hawthorn Villas went for £685,000. It just goes to show that from Willington to the leafy lanes of NE28, there is a massive range of people looking to call this place home.
What does this mean for your move?
- If you’re thinking of selling: You are in a fantastic position. With only 128 homes for sale across the entire NE28 area and a 26% monthly turnover rate, your home is entering a market with very high competition for sellers. You are likely to see significant interest from the current pool of active buyers.
- If you’re looking to buy: You’ll need to be proactive! With housing supply dropping, choice for buyers is a little more limited. My best advice? Get your mortgage bits sorted and be ready to view properties as soon as they are listed on the internet.
- If you’re just curious: The high levels of market activity generally help keep property values steady and strong. It’s a sign that NE28 is a place where people really want to plant roots.
Whether you're in a terrace in Wallsend or a detached spot in Howdon, there is a great deal of movement in the market. If you fancy a proper chat about what your own place might be worth in this busy summer market, just give me a shout. The kettle is always on!