While the stamp duty holiday is encouraging significant activity in the housing market, it is the change in buyer priorities which are shaping buyer behaviour in the market.
A recent study by a leading property portal in the UK suggests buyers are looking at small towns, villages and civil parishes for their next home. If remote working becomes a common feature of working life, there will be a greater element of freedom for people and families to choose where they wish to live.
The headlines outlined by Rightmove are as follows:
· Areas with populations of under 11,000 saw the biggest uplift in buyer searches in September, as people look to move to smaller places in the countryside
· All of the places where searches have doubled are small towns, villages and civil parishes, in contrast to searches being up 53% on average across the ten biggest cities
Baldock is a great option for buyers looking for a new home
With a population of around 10,000 (10,280 as per the 2011 Census for Baldock East and Town wards), Baldock fits the criteria outlined by Rightmove as experiencing the largest increase in buyer searches.
At Country Properties, we are pleased to say we are working closely with buyers and vendors right now, and we see this activity and search intent for ourselves.
As of November 2020, Rightmove said the following about the Baldock property market; “Properties in Baldock had an overall average price of £306,654 over the last year. The majority of sales in Baldock during the last year were terraced properties, selling for an average price of £311,186. Semi-detached properties sold for an average of £364,021, with flats fetching £173,791. Overall, sold prices in Baldock over the last year were 9% down on the previous year and 3% down on the 2017 peak of £314,802.”
Rightmove’s Director of Property Data Tim Bannister, explains; “Back in May when the market reopened in England, we wondered how long the desire to move to the country or to smaller towns and villages would last. It’s clear that this short-term shift has turned into a medium-term trend, as our data is showing that home hunters looking at what’s available are also turning into serious buyers putting in offers.”
Tim Bannister also said; “There are a number of likely drivers of this change, some buyers are now more willing to have a country commute a few times a week, and others are preparing for social distancing to be here for quite some time yet, and so are being drawn to places with more outdoor space. Housing markets in some of the biggest cities are still busier than this time last year as the quiet life definitely isn’t for everyone, but they’re not seeing the same surge as these smaller areas.”
In line with Government guidelines, our Baldock Branch is open and our experienced team is working hard to support you. To clients old and new, if you have any queries or need advice on property sales and lettings then please call 01462 895061 or 01462 742077, or you could email email@example.com or firstname.lastname@example.org.