Home buyers 'shifting away from crowded south'

Posted: 24 Apr 2007 11:21:48 GMT

In news that may be of interest to those looking to sell their home, new research has shown that demand for homes in areas away from London and the home counties has increased as homebuyers seek lower prices and more space.

In news that may be of interest to those looking to sell their home, new research has shown that demand for homes in areas away from London and the home counties has increased as homebuyers seek lower prices and more space.

This conclusion comes from the Smart New Homes Index, produced by Wrigglesworth Consultancy.

It stated that the most popular areas for buyers are the south-west and Scotland, followed by the north and north-west, noting that the latter two regions have seen 31 per cent of all new homes built in the UK as more land is available.

David Bexon, the managing director of Smartnewhomes.com, said there was a "huge exodus from major cities such as London."

The trend revealed in the study may go a long way to explaining the above-average annual increase in property values recorded in the south-west (14.1 per cent) and Scotland (22.4 per cent) in the latest Halifax survey.

However, the Daily Record pointed out that house prices north of the border are still cheaper than in England, with the average Scottish house price being £192,314.


© Houseladder Ltd