Target Property Services NE

Blog

16th June 2021

The North East bucks the trend for Affordability

Our region remains a good place to buy a home instead of renting.

Across England in general, it is cheaper to rent a property than it is to buy a home for the first time in more than six years.

Research by a leading estate agency suggests that before the pandemic began in March 2020, people buying with a 10% deposit would have been better off than renters by £102 a month.

But last month, it found the average private sector tenant was better off, spending £71 a month less in rent.

There are now only four areas in the UK where it is cheaper to buy than rent.

They are the North East, North West, Yorkshire and Humber, and Scotland.

This is in contrast to May last year, when rental demand dropped as younger adults returned to live with their families during the pandemic and work and leisure restrictions made city living less attractive.

In early 2020, it was cheaper to buy instead of renting in every nation or region in the UK.

To all those currently deciding whether to buy or rent in the next 12 months, get on the property ladder now would be my advice. Similarly, if you are uncertain about staying where you are for now or selling, there will be plenty of buyers waiting to take your home.

Thinking about moving? Think Target

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Testimonials

I would highly recommend Target Property Services NE. Joe has been fantastic support to getting my first home and very quick at responding to any questions or queries I've had about the property. Very friendly and very professional.

- Grace

We had to organise our house move at short notice and although there was quite a lot of work to be done before we could move into the property, Joe went above and beyond to ensure everything was sorted for our moving in date. He is always very patient and quick to answer any queries and resolve any issues that may arise. We cannot recommend his company highly enough - Elliot

- Elliot and Kana

I would like to thank Target Property following the sale of our house. It was a pleasure to work with this estate agent. Always very professional, quick to respond to queries and they kept us informed throughout the process. Our house sold within a day which was just amazing. Could not fault the service we received and would highly recommend to anyone. Many thanks.

- Simon and Vicky

Great local estate agent with a personal touch! Joe knows the local market, and has dealt with rentals and a sale for me. He is very responsive and pays attention to detail for landlords and tenants alike! Would highly recommend

- Rachael

We found our dream home that was ideal for our family, but the estate agent wouldn't accept our offer until we had our own property sold first. After trying a couple of other agents in the area who were quoting a week to 3 weeks to get to us due to high demand because of the Stamp Duty holiday, we got in touch with TPS. Within 48 hours our house had been valued, pictures taken and was listed online. We had our first couple of viewings within 72 hours, and had accepted an offer within 1 week! I truly believe we wouldn't have got our new house if it wasn't for the swift response of Joe at Target Property. They also managed to get us a competitive solicitor quote and kept us up to date with the process, saving us additional time and phone calls. Thank you!

- George and Maria