Higher Demand For Welsh Properties?
19th August 2020 posted in Sellers Buyers Landlords Tenants
A study by Barclays Mortgages has found that people in the biggest cities of the UK are looking to exit their current surroundings. Around a third of respondents from Birmingham and London said they would like to leave their current city, and set up home in new surroundings.
Remote working is a key feature in this desire, because there is now a genuine opportunity to leave the city, and live somewhere new. At Hunters Bridgend, we appreciate these are unique times in the housing market, and there is a lot to keep up with.
If you would like guidance on what is currently happening in the Bridgend and Welsh housing market, please get in touch.
22% of respondents said they would be willing to move to the South-West of England or Wales while 20% of those spoken to say they would be happy to move to Wales.
Wales has a lot to offer
This shouldn’t come as a shock or a surprise. If remote working becomes commonplace, and there is greater freedom to work remotely across the United Kingdom, there are many reasons why prospective buyers will pay close attention to the Welsh housing market.
The value for money on offer in areas such as Bridgend are attractive. According to Zoopla, the average price paid for property in Bridgend, as of August 2020 and for the past 12 months, is £178,115.
With property prices across London and the South-East of England being considerably higher, and offering much less for the higher prices, moving to Wales makes financial common-sense.
Bridgend has a strong sense of community spirit
Of course, the more relaxed pace of life and being close to stunning scenery are also valid reasons for moving to Wales. You will also find many people, especially those coming from the English capital, are looking for an area with a strong community spirit. We are pleased to say this is one of the most important aspects of local life in Bridgend.
If you would like to learn more about the Bridgend housing market, we are more than happy to talk you through the area’s key features. If you plan on selling your Bridgend home, who would you prefer to connect with buyers on your behalf than a skilled and experienced local agent who knows the area?
To arrange a property valuation, contact Hunters Bridgend and we will be more than happy to help.
Dr Peter Brooks, Chief Behavioural Scientist at Barclays, commented: “Spending the last few months in lockdown has been a massive life event felt by the whole nation. All this time at home has given many of us the opportunity to reflect on where we live and why we’ve chosen those areas, as well as time to consider what’s important to us and the things our current living situations lack.”
Dr Brooks also said; “This research indicates an aspiration for a big move and complete lifestyle change. More outside space and the benefits of being closer to friends and family are high on the ‘must have’ list for many movers.”
Dr Brooks concluded by saying; “As working from home becomes more commonplace moving cross-country looks to be move achievable for many as there is less of a need to be within a short commute to the office. If the findings of this research are reflected in the housing market, we could well see a trend for people to leave urban areas in favour of more rural locations.”
At Hunters Bridgend, we are proud to play a part in supporting a thriving and friendly local community. If you would like information or guidance on how we can assist you, or you just want to stay in touch with the latest housing industry news, please contact us today.