Blyth is a busy town on the Northumberland coast, 13 miles north of Newcastle, with its history dating back to the 13th century. It was once an early centre of the salt industry, and later a coal port and shipbuilding centre.
The 2021 Census discovered the town has a population of around 39,700 people. According to Zoopla, the average price for a property in Blyth, over the past 12 months, comes in at an average of £131,881.
According to UK land registry data, as of July 2023, the average house price in the UK is much higher, averaging at £289,824.
Speaking exclusively to Express.co.uk, property specialist, Paul Gibbens, said: “The property prices in Blyth are generally lower due to a variety of factors.
“One significant aspect is the price per square metre which is lower compared to other regions in the UK. For instance, as of 2021, the price per square metre in Blyth was £1,490, whereas in nearby Newcastle upon Tyne it was £2,090.”
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The specialist from Housebuyers4u also added economic conditions and level of investment in the area played a “key role” in the housing prices.
Mr Gibbens said: “Blyth is one of the towns in the UK set to benefit from the government’s “levelling up” funding which aims to address regional disparities in economic growth and housing affordability.”
He stated although lower properties in Blyth may be appealing to families looking to move from more expensive areas, it could potentially allow for “homeownership opportunities” or the ability to “secure larger properties” for similar to lower prices compared to other regions.
According to Centre for Cities, Britain today has a backlog of 4.3 million homes that are missing from the national housing market.
Mr Gibbens said: “There’s a growing need for social-rented housing and a significant portion of the population is being pushed into harsh living conditions due to the housing crisis. The shortage has led to surging prices making homeownership unaffordable for many individuals, thereby exacerbating the crisis further.”
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Speaking about the housing crisis, Angus Todd, director of Bradley Hall Chartered Surveyors and Estate Agents, said: “Blyth, is working incredibly hard to address the current situation, and recently received an extra £20m from the Government in Levelling-Up funds pledged to improve the town’s housing stock.”
He added: “Recently, we are seeing a definite rise in interest in homes in South East Northumberland and Blyth in general as people recognise the many benefits of its unique location.”
“With its own beach, port, regenerated town centre and rapidly developing renewables sector, Blyth is also ideally situated for commuters travelling into the employment hubs of Newcastle or North Tyneside’s Cobalt and Silverlink business parks, linking into these areas via the spine road.”
Earlier this year, the government announced Blyth would receive £20.7m investment to help regenerate run-down housing, reduce health disparities, improve people’s access to local jobs, increase skills training and keep young people off the streets.
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