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Comparing 4 cities

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Metric

Newcastle

The North East's capital, re-emerging.

London

Global capital. Global demand. Long-term capital.

Sheffield

Undervalued, under-supplied, outperforming.

Leeds

The financial capital of the North.

Gross yield range6.5–9%3.5–5.5%6.5–8.5%5.5–7.2%
Entry price£110,000–£225,000£320,000–£1,250,000£135,000–£260,000£165,000–£320,000
Population forecast310,000 by 20309.6m by 2030600,000 by 2030820,000 by 2030
Price growth forecast+16.8% (2024-29)+13.9% (2024-29)+18.6% (2024-29)+21.4% (2024-29)
Rental growth forecast+17.9% (2024-28)+15.1% (2024-28)+17.2% (2024-28)+19.0% (2024-28)
New homes pipeline4,500 new homes (5-yr)37,000 pa (vs 340k need)5,500 new homes (5-yr)9,000 new homes (5-yr)
Universities2 universities40+ universities2 universities2 universities
Student population50,000 students420,000+ students60,000 students105,000 students
City-centre businesses
Median age34 years (lowest in North East)35 years (lowest in England); inner-east boroughs 30–3240 years S1 (younger than city avg 40.9)36.4 years (ONS 2022)
Private renters23% private rented / rent-free citywide30% London-wide; 40%+ in Tower Hamlets, Hackney, Newham18.9% private rented S121.8% citywide; LS1 skews younger and higher
Graduate retention40% Northumbria graduates; 26% Newcastle Uni77% (highest in UK, Centre for Cities)42%39% (Centre for Cities)
Household income£43,200 avg salary citywide£79,555 GDHI per head Westminster + City (ONS 2023)£28,276 avg salary S1£29,767 avg salary LS1
Target tenantYoung professionals and postgraduates working across NHS, public sector, tech and professional services at Quayside and Pilgrim Street, plus international students at Newcastle and Northumbria universities driving premium city-centre apartment demand.City and Canary Wharf finance and tech professionals, global graduates on 3–5 year stints, international students. East End regeneration zones pick up priced-out millennials and key workers.67,000 students across University of Sheffield and Sheffield Hallam, plus young professionals in advanced manufacturing, digital and healthcare renting in Kelham Island, Heart of the City and Devonshire Quarter.Young professionals 25–35 in finance, legal and digital/tech (Channel 4, Bank of England northern hub) and Russell Group graduates, renting in The Calls, Wellington Place and the South Bank.
Top regen projectForth Yards / Quayside West · £330m initial tender (£121.8m gov funding)Old Kent Road Opportunity Area · £10bn+Heart of the City II · £470mLeeds South Bank · Multi-£bn programme
Regen pipeline4 major schemes4 major schemes4 major schemes4 major schemes
Key neighbourhoodsQuayside · Ouseburn Valley · Heaton & Jesmond · Pilgrim StreetCanary Wharf & Docklands · Stratford & Olympic Park · Elephant & Castle · Woolwich & Abbey WoodKelham Island · Devonshire Quarter · Ecclesall Road (S11) · AttercliffeSouth Bank · Holbeck Urban Village · Headingley (LS6) · The Calls
Transport highlightNewcastle Central, 2h 47m to London6 international airportsSheffield Station, 2h 06m to LondonLeeds Station, 2h 13m to London Kings Cross
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