Property Moves Indicate People Are Keen To Move On

18th May 2021 posted in SELLERS

At Country Properties, we like to offer as much assistance as we can to people looking to move home. We aim to combine our local knowledge, in areas such as Royston, with our insight into the national market.

We know this has been a challenging year, but the demand for homes is high at the moment. With the industry, and the country as a whole, moving forward, people are moving home. We look at the reasons why people are moving home, and if you are also keen to move, we are here to assist you.

A recent study, carried out by a property developer, spoke to 2,000 households. The findings will hopefully be of interest.

·         31% of respondents say they expect to change their living arrangements after living through lockdowns and working remotely.

·         Normally, between 4% and 5% of households move home in any year.

·         For the age group between 25 and 34, 32% said they expect to move.

·         For people aged 60 or over, 28% said they intend to move.

·         20% of respondents say they plan on moving within the next three months.

Will people move for work?

·         26% of respondents say they plan to relocate due to being able to work from home, or at least be able to combine remote working with occasional office work.

·         26% of respondents said that even with remote working possibilities, there is a need for suitable jobs to be available in the local area.

What matters most to prospective buyers?

·         29% of respondents said a good standard of living is the most crucial factor in deciding where they should next live.

·         23% of respondents said road networks and connectivity are vital, which suggest that a fully remote lifestyle is not ideal for most people.

·         10% of respondents said they are keen to live in an area which is likely to increase in value

·         9% of respondents said living close to hospitals was important.

Greg Malouf, Romal Capital’s CEO, comments: “We’re seeing a paradigm shift in how this country wants to live and work. Hybrid working options and lifestyle changes are two key elements driving this change in behaviour. Moreover, the temporary stamp duty holiday and the desire to cash in on significant property price increases in 2021 have also empowered decision making. In fact, in the same period a 16% property price-hike in Liverpool alone, underlines this very bullish market.”

Greg concluded by saying; “The current UK housing market simply does not match this new reality, and with these changing demands, needs to be a country-wide rethink on meeting housing needs.”

According to Rightmove, as of early May, the housing market in Royston is as follows;

Properties in Royston had an overall average price of £380,676 over the last year.

The majority of sales in Royston during the last year were terraced properties, selling for an average price of £310,021. Detached properties sold for an average of £594,034, with semi-detached properties fetching £368,430.

Overall, sold prices in Royston over the last year were 7% up on the previous year and 11% up on the 2018 peak of £342,309.”

If you are keen to make a move in, around or out of Royston, we are here to assist you.

In line with Government guidelines, our Royston branch is open and is staffed with sales and lettings personnel.  If you have any queries or need advice on property sales and lettings then please call 01763 245121 or email royston@country-properties.co.uk.