From London To Wales - A Blog
05/03/2019 - Tomos Gould
From Wales to London - A Blog
There comes a time for many a city dweller to up-sticks and move to the countryside, so why not consider Wales?
A report by Hamptons International found that Londoners had bought an estimated £30 billion pounds worth of property elsewhere in Britain in 2018 - the highest amount since 2007. More and more Londoners are opting to leave the hustle and bustle of the City, swapping their high rises and hectic commutes for green space, fresh air and idyllic coastlines.
With Wales’ seaside towns, quaint villages and vibrant capital city, Wales is able to offer all the lifestyle benefits of London and other big cities but with cheaper house prices offering more bang for your buck as well as a slower paced lifestyle.
There is also a financial reason to consider making the move to Wales - whilst the rest of the United Kingdom embraced a nervy 2018 that was heavily disrupted by the ongoing uncertainty surrounding BREXIT, the Welsh market showed resilience with record houses price levels being reached. Nationwide Building Society found the average house price across the UK rose a modest 0.5% in the twelve months period from December 2017 to December 2018. Compare this to the 3% increase seen in Wales over the same period as well as a record high average house price of £186,699, clearly shows that lifestyle and the affordable property that Wales has to offer is extremely appealing to buyers.
Furthermore, the recent removal of the tolls tariff across the Severn Bridge is already attracting purchasers from the South West of England, which in turn has created tremendous success in areas such as Newport, who have already seen average house prices increase by up to 7%. This is a trend that is likely to continue across South Wales. As house prices in Bristol continue to soar, the now easy commute combined with the much anticipated electrification of the railways connecting Cardiff to Bristol make an exciting proposition for buyers to come to South Wales.
Making the move from city to country can be an expensive mistake if you get it wrong. Here are some things to consider for those thinking about making the move:
Location, Location, Location
It is important to not get too hung up on your house requirements in the early stages - You can change a house but you cannot change its location!
Do the number stack up?
Know your budget. I would always recommend getting valuations from local estate agents for your existing home and speak to a mortgage broker about what you can afford. This will help you manage expectations and narrow down areas you can afford.
If you love urban life and cannot function without your weekly coffee date or weekly yoga class than moving to the middle of nowhere may not be the right move for you.
You must consider your commute, your hobbies and where family/friends live. It is often wise for first-timers in the country to opt for somewhere with close connections to a large town/city.
Who’s moving with you? Make sure to think about yourself/ your partner / your family’s needs.
Also, don’t forget to plan for the future. If you’re planning on having children, does a rural upbringing win over the convenience of a town? Think about the older generation, your parents who might need more support as they get older.
Asking your friends/family for their opinions/advice will make them feel valued, included and prepared for the move.
Think about everyday life - does your village have a shop, transport connections and within walking distance of local pubs/restaurants.
Check things like broadband and phone signal strength.
Different counties will have different catchment-area requirements, so be sure to research each school/council. Don’t take it for granted the kids will automatically be enrolled in the local school.
Sussing out the area
Walking around the local village, chatting to dog walkers and the local shopkeeper is a great way to gain a understanding of the place. Visit at different times of the day and week and consider what the village will be like during different the different months/seasons.
Consider try before you buy
Renting in the village/town you have identified for a few months to see how you find it is always a smart move. You could even Airbnb for a couple of weeks if you don’t fancy the upheaval of moving to a rented house.
Made the move?
Once you’ve taken the plunge, be sure to immerse yourself into the local community.
Blog post by Tomos Gould, Head of Residential Sales, Penarth