Location, location, location… how in-demand is your area?
With better transport links and increased investment from large companies, Rightmove has seen a huge increase in searches for certain locations that offer all of the benefits of larger commercial cities, with none of the drawbacks.
When moving house, it’s fair to say that many people look to purchase in the same area within which they lived previously. There is however, a rising number of UK homebuyers with plans to move to locales which offer a better deal in terms of investment. So where do they tend to focus their efforts? Online property giant Rightmove has recently carried out research into the most-searched locations around the UK – and some are quite surprising.
Many believe that the capital’s housing bubble is set to burst, with skyrocketing prices and a limited selection of properties available for purchase… and for the financially savvy, the idea of moving to a commuter town seems a very attractive prospect. This is aided by the government’s increased investment in high-speed rail links that are cutting commuting times to a minimum, allowing many London workers to live in more affordable areas. Towns such as Milton Keynes have seen a huge increase in popularity in recent years, thanks to a large selection of schools, shops and amenities, as well as the number of large companies establishing their headquarters within its boundaries.
The story is similar for Cambridge, which many biotech companies have chosen to call home thanks to its excellent transport links – not to mention the increasing overseas investment in new-build housing. Of course, for many buyers, the historical significance of the city is reason enough to consider starting afresh. Norwich is another city benefiting from a fast commute to the capital – and with the average home selling for half the price of Cambridge, and a third of the price of the average London home, it’s not hard to see why.
However, many places are seeing increased interest regardless of links to the South East – towns such as Harrogate, which has been named as the happiest place in the UK three years in a row and offers historic buildings, a bustling high street and a number of schools with high reputations, like Harrogate Grammar School and St. Aidens.
It’s the same case in cities such as York and Sheffield, where the industrial history of the north has been modernised with mills and factories being converted into affordable apartment complexes. With major commercial cities such as Liverpool and Manchester a short train ride away, it’s a no-brainer for the average buyer looking for an affordable property in a beautiful area.
For those looking to sell their home fast in these areas, it’s great news – multiple offers are driving up prices, allowing for larger profits on even smaller properties. Unfortunately, this also means that there are areas that are failing to garner interest from buyers due to poor locations and crime rates, causing many vendors to worry about losing money on their homes. Luckily, for those looking for a quick house sale, property buying companies are willing to buy these homes for cash at competitive prices without having to use an estate agent.