According to the public record, 16, Ovett Gardens, Gateshead is a modern leasehold apartment with 731 ft2 of internal area.
Apartments of this size in this area normally have 3 bedrooms.
Ovett Gardens, Gateshead, NE8 is located in the borough of Gateshead within the NE8 postal district.
16, Ovett Gardens, Gateshead has 21 entries in the Land Registry database, most recently in November 2023 and a single entry in the EPC database dated July 2023.
We combine this information with that of neighbouring properties to estimate the property attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for 16 Ovett Gardens Gateshead as £105,773 and the rental value as £769 per month giving an expected gross yield of 8.7%.
Over the last 12 months the sale value of 16 Ovett Gardens Gateshead has increased by £3,404 (3.2%) and its rental value has increased by £76 per month (9.9%).
Decorative condition can have a big effect on a property's value and this effect varies depending on the type, size and location of the property.
If 16, Ovett Gardens, Gateshead is in very good condition we estimate a sale value of £111,061 and rental value of £808 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £98,368 and a rental value of £715 per month.
If you were able to purchase this property for the estimated value of £105,773, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £520 per month.
This figure is only an estimate but we've partnered with Mortgage Advice Bureau who can provide a figure tailored for you! Get started using their mortgage finder below.
According to HM Land Registry, 16, Ovett Gardens, Gateshead was last sold on 24 Nov 2023 for £92,000 and was recorded as a leasehold flat.
The property has had 2 sales since 1995.
Since Nov 2023, the market for similar properties has risen 6.8%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 16, Ovett Gardens, Gateshead within a radius of 530 metres over the last 2 years.
The most recent example is 54, Ovett Gardens, Gateshead, NE8 3JH, a Leasehold flat which sold for £96,000 in Nov 2023.
Read more about house prices in NE8.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Ovett Gardens, Gateshead, NE8 has a total of 66 addresses. According to our analysis of all the public data, 16, Ovett Gardens, Gateshead is the 36th largest and the 37th most expensive property on the street.
When compared to the postcode district it is £27k less expensive than the average property in NE8.
16, Ovett Gardens, Gateshead has an Energy Performance Rating (EPC) of C. This is based on the most recent assessment, dated 22 Jul 2023.
The property is connected to mains gas and has fully double glazed windows. It is heated using a boiler and radiators.
The closest station to 16, Ovett Gardens, Gateshead is Manors station which is 2.0 kilometres away.
The recent census recorded whether a resident owned or rented their home.
In the area around 16, Ovett Gardens, Gateshead, 46.9% of property is privately rented and 35.7% is privately owned with a mortgage.
The graph below shows how this compares to Greater London and the rest of England & Wales.
The recent census recorded the highest level of education achieved by residents in the local area.
In the area around 16, Ovett Gardens, Gateshead, 21.7% of residents are recorded as possessing school level qualifications and 61.3% as possessing degree level qualifications.
The graph below shows how this compares to Greater London and the rest of England & Wales
The most recent census in 2021 recorded the age of all UK residents.
In the area around 16, Ovett Gardens, Gateshead, the average age was 35.8 and the most common age was 27.
The graph below shows how this compares to North East and the rest of England & Wales
The recent census recorded whether a property was a primary or secondary home for the resident.
In the area around 16, Ovett Gardens, Gateshead, 0.0% of property was a second home.
Comparison figures for North East and the rest of England & Wales are listed below.
The recent census recorded the number of cars registered in each household.
In the area around 16, Ovett Gardens, Gateshead, there are an average of 1.1 cars per household.
See below for how this compares to North East and the rest of England & Wales.