Not all doom in the North East Property Market

The effects of the credit crunch on the estate agency industry are causing one property website to have more visitors and generate more enquiries than anticipated. The website is owned and operated by RE/MAX estate agent Joe Marsh and is specifically for one development in Gateshead. The development is St James Village Gateshead and the increase in traffic and visitor numbers has lead to, on average, 10 people per day who are looking to rent a property registering their details on the website.

Joe Marsh states “the reason St James Village Gateshead is proving very popular with people looking to rent is due to the fact that Gateshead Stadium Metro Station is on the doorstep and Newcastle and Gateshead Quayside are within minutes drive. Add into the equation that that a typical two bedroom apartment will rent for an average of £525 per month and that there are three and five bedroom properties also available then it is no wonder there is a lot of interest from a range of prospective tenants.”

The current market conditions have also lead to an increase in the number of rental properties becoming available, due to vendors not being able to sell their property and also the number of persons looking to rent as finance to purchase may be unobtainable or those looking to buy have decided to wait and see how the current situation develops. As a result of the increase in demand for rental properties, the majority of properties available through the St James Village Gateshead website are being rented almost immediately by waiting tenants who have registered their details. There are now only a limited number of properties available to rent with more landlords required in order to satisfy the demand.

For more information visit http://www.stjamesvillagegateshead.co.uk.
Joe Marsh can be contacted via http://www.joemarsh.co.uk or on 0191 2133663.