If moving just down the road could save you hundreds, would you do it?
New research has revealed that moving just one stop on the Tyne and Wear Metro line could save more than £500 a month in rent.
The data from KIS, a North East sales and lettings firm, has altered the Metro map to show the average cost of renting a home at each station.
In some cases, moving just one stop away down the line could save hundreds. The figures are based on the typical cost per month of renting a two-bedroom property within a quarter of a mile of the Metro station.
Do you live in one of Tyne and Wear's property hotspots? The top five excludes stops in central Newcastle.
1. West Jesmond (£863)
2. Tynemouth (£848)
3. Jesmond (£713)
4. Chillingham Road (£697)
5. Ilford Road (£685)
The cheapest five areas to rent are:
1. Byker (£347)
2. Tyne Dock (£423)
3. Heworth (£439)
4. Millfield (£444)
5. South Shields (£450)
The largest differences from station to station meanwhile are:
1. £578 (Manors to Byker)
2. £443 (Jesmond to Haymarket)
3. £360 (Tynemouth to Cullercoats)
4. £350 (Chillingham Road to Byker)
5. £329 (Tynemouth to North Shields)
Ajay Jagota, Managing Director of KIS said: “Every month our Housing NOW market intelligence report provides an in-depth look at the true state of the North East property market on an area-by-area basis, but by grouping all rents and house prices in the biggest areas together we felt we weren’t necessarily telling the whole story of rents in Newcastle, Sunderland and even Gateshead.
“We thought this would be a eye-catching way of taking a closer look at the region’s property hotspots, and although few people will be surprised to see that places like Jesmond and Tynemouth are the most expensive areas, it is striking to see the change in rents from station to station laid out on the Metro map."
Byker and Chillingham Road are slightly over a mile apart, Mr Jagota said, but moving from the latter to the former would save £350 per month.