Why the move to market towns?

🕑 3 minute read

A better work-life balance

Over the last two years we’ve adapted to huge change in our work and home life. Challenging times have made us rethink what matters most.

The trend to move out of cities and live in suburbs or market towns continues. Why the move? For many it’s a lifestyle choice, a chance for a better work-life balance, or the opportunity for your kids to grow up in a greener space.

If you’re spending more time at home or working from home, you’ll want to make the most of it. Are you looking for more space? Do you need a spare room that doubles as an office? Or do you long for a garden?

Moving out of the cities and into the suburbs

The demand for out-of-city homes has seen those property prices rise. House prices in major cities have grown by 8.9% since March 2021 but areas surrounding those cities are up by 10.8% over the same period.

Source: The figures are based on the same approved residential mortgage data that are used in the production of the Halifax Price Index. House prices for referenced cities and surrounding areas have been calculated based on a residential price per square meter basis, with cash prices subsequently based on the areas typical property size according to Energy Performance Certificate (EPC data).

Percentage change figures have been calculated based on the difference in typical prices between the three months to March 2020 and the three months to June 2021.
 

  • Bristol is up 9.7%, the surrounding area is up 12.7%

    Exeter is up 7.5%, the surrounding area is up 8.3%

    Manchester is up 11.1%, the surrounding area is up 13.4%

    Nottingham is up 7.4%, the surrounding area is up 12.1%

    Edinburgh is up 8.5%, the surrounding area is up 12.6%
     

In the market for market towns

As popular as ever – historic market towns have seen house prices rise too. It’s no surprise when they offer period properties and green spaces. You can expect a house to be worth approximately 13% more than the county average. In fact, market town properties across the country cost on average £36,000 more.

Thinking of moving home? Our Moving home help hub is full of handy information, tips and guides to help you take the next step. Alternatively, if you are thinking of staying put, check out our Improving home help hub, where you will find inspiration and advice on how to improve your home.

Looking to move?

Take a look at our helpful advice before you plan that next move.

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