At one time, people were content to buy a home and live in it “forever”. That is not the case in the current scenario. The pandemic caused a change in lifestyle – from working online at home to the desire for larger accommodation with outdoor space, preferably away from the cities and in the suburban or rural areas. This trend set the relocation process in motion and, since then, many people have moved or are planning to relocate to other properties and locations. As the Sittingbourne letting agents will concur, people looking for a change are on the rise.
The places people are looking to relocate depending on the individuals themselves and their priorities. The UK has so much to offer with a variety to choose from. We give below some of the property hotspots to suit the tastes of the diverse population.
During and soon after the pandemic, people were looking at moving out of crowded city areas and to the suburbs. This is still very popular. However, with the return to normalcy, recently there has been a surge in people wanting to relocate to the city areas, mainly due to work, businesses or studies. Of course, the decision to move requires to be based on their budget and affordability.
Cost of living:
House prices, unexpectedly, have kept rising all over the country. However, the cost of living in the north of England is less than in London, other cities and the south. This includes rentals, council taxes and water bills. However, energy and electricity bills are high in some northern cities. This could affect where the lower budget income group chooses their locality.
Though some are looking at moving out of cities, they still require good transport facilities, with shopping, reputed educational institutions, medical facilities and entertainment venues available. Car parking is also important. A low crime rate is a plus point. A must is an excellent internet connection! Also important is to check whether the location is “on the up” – meaning whether or not the value of the property will increase. Wiltshire and Leeds are hotspots which offer these facilities. According to an expert, “Our research highlights that as pandemic restrictions have been lifted, competition has increased most in areas just outside Birmingham, Newcastle and Manchester, as more people look to be closer to cities either for work or for their lifestyle.”
While London is still a prime location, smaller towns are close by making it feasible to commute to the capital. At the same time, they will be able to buy larger and more spacious properties there. These hotspots are Weybridge, Esher and Farnham in Surrey, Chelmsford in Essex and Crowborough in Sussex.
Many of the properties in tourism hotspots are second homeownership, where they are usually let for short terms to tourists or used as holiday homes. Renting for the long term becomes difficult and expensive. The main tourist hotspots which are also popular for people looking to relocate are London (where Balham and Upminster are competing for popularity) and surrounding districts such as Westminster, Camden, Kensington and Chelsea, county areas like Oxford and the Cotswolds, The Midlands (Birmingham, Derbyshire, Leicestershire, Northamptonshire, Nottinghamshire, Solihull) and coastal areas such as Hove and Pembrokeshire.
Despite the effects of climate change, the move to coastal areas has seen a sharp increase. These areas offer diverse lifestyles – isolated but beautiful, lively with attractive harbours and good restaurants, or village-like towns with cute houses and shops beside a spacious beach. Cardiff, Cornwall, Brighton, Bristol, Newcastle-upon -Tyne and North Devon have become property hotspots. Some of the less expensive but popular coastal areas are Eastbourne, Suffolk and Norfolk.
Increase in newbuilds:
To cater to the needs of people wanting to relocate due to lifestyle changes, there has been an increase in new-build properties in areas like Tewkesbury in Gloucestershire and Tonbridge and Margate in Kent. These have attracted new buyers.
The change in people’s accommodation requirements, lifestyle and affordability will set the trend for property hotspots. However, as an expert in the marketing services field mentioned, “Only by understanding this profound change can local authorities, city and town planners and other organisations begin to think and plan differently. For example, ensuring there are sufficient transport services to meet demand is just one area which will require a new approach.” https://inews.co.uk/news/homeowners-move-cities-buyers-look-further-new-research-1558424
As more people plan to relocate, further options will open and there will be an increased number of property hotspots. With the demand far exceeding the supply, people will be forced to look at areas beyond their desired location.
Here is it: realitytime.org