It's not just Newcastle, the whole area has much to offer, and not just for those wanting to get drunk and throw up. Looking about, there are some very good and affordable places to stay, google is likely a person's best chance of finding them, as many places have offers, even if you need to stay for weeks or months!
There is so much to see, especially with all the expansion and building work. Meaning more accommodation, and many things to see! One of the places I like is the river, with it's bridges. An iconic place to start!