Home-Buyers Heading out of London

There may be challenging times ahead in the property market but Ross D'Aniello, Sales and Marketing Director at Nock Deighton, believes the fact that more people are looking at Shropshire and Worcestershire as the ideal place to live, work and bring up a family means we are justified in our optimistic views for the future.

"This year is seeing some uncertainty regarding Brexit and what will follow but people will continue to set up home together, have children and see buying a home as being a pretty good investment.

"House prices are higher now than they were before the big recession of 10 years ago and will continue to fight back after any feeling of uncertainty that life continues to throw at us.

"To prove this point I would like to point you towards a recent study which shows the Midlands are becoming an increasingly attractive option for home buyers from London looking for more value for their money.

"The study by Hamptons International Real Estate Agents revealed Londoners bought £30bn worth of property outside the capital last year - the highest figure since 2007 and a 7.8% rise on 2017.

"This equated to 74,350 homes with an average of just under £399,000 being spent on buying each one. With affordability in London becoming increasingly stretched, the study found more people were moving further afield with 21% moving to the Midlands or North compared to 7% in 2008.

"Shropshire and Worcestershire are attractive propositions for potential home buyers, offering many advantages over living in London and our team are constantly delighted and proud to extol their virtues over our much bigger city brothers.

"Many people are finding they are outgrowing the London homes they may have been just about able to afford, or have been renting or living with relatives, and are looking to buy their first home and finding the capital is too expensive.

"You can pay an awful lot of money for not very much in terms of property in London and when people see some of the wonderful properties available to buy in the area they often think it is just too good to be true.

"There are undoubtedly other advantages to living in a more rural setting, the pace of life is often less stressful, you are only minutes away from wonderful countryside wherever you live and the general cost of living isn’t so high.

"It is also true that the commuter belt has grown further and further north over the years and the travelling time to the capital has become much more manageable - so even though you have opted to leave London it’s still easily accessible.

"This study only shows what we have known for a long time - London may be our nation’s much-loved capital but there can be much nicer places to call home."

For more advice about buying or selling property in Shropshire, Worcestershire and across the Marches, please get in touch.

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