Nine times out of ten, where is the first place a potential buyer will see…
Remote working has changed the way we live our daily lives, and it impacts on what buyers are looking for in a property. At Lock & Key, we have liaised with many buyers and vendors of late, and we know there is a change of outlook in the housing market.
We also stay in touch with the latest market research. We believe Melksham is an option for city dwellers looking for a new area. If you are looking to buy in Melksham or you are a Melksham resident keen to sell, we can help.
Some key statistics from Rightmove analysis include:
- The number of city residents contacting agents to move to a village rose by 126% in June and July 2020 compared to June and July 2019
- The number of city residents contacting agents to move to a town rose by 68% in June and July 2020 compared to June and July 2019
- The movement from buyers’ keen to leave cities started in April and it has shown no signs of abating so far
Rightmove’s property expert Miles Shipside said: “The lure of a new lifestyle, one that is quieter and has an abundance of beautiful countryside and more outdoor space, has led to more city dwellers choosing to become rural residents. We saw a shift as early as April in more people living in cities enquiring about moving out of that city, and this trend has continued. The most popular village moves are still within the same region the home-hunters are currently in, as it’s likely they’ll keep their current job but may have the flexibility to commute less often and set up their working space at home.”
Melksham can work as a commuter option
Anyone who is considering travelling between Melksham and Bristol for work purposes will find the commute is just over an hour. On some occasions, the journey can be completed in 55 minutes, on other occasions, it might take around 1 hour and 15 minutes.
This is an acceptable commute time for many people, and if it was something that was only being undertaken once or twice a week, or even a couple of times a month, it would likely be acceptable for many people.
Therefore, people who are keen to move out of Bristol to enjoy a different setting but who wishes to remain in close enough contact could find Melksham of benefit.
Also, the current average price paid for property Melksham stands at £263,255 while for Bristol, it is £330,954. Therefore, you can save money by buying property in Melksham or you can make your money go further.
A Melksham to London commute, of more than 2 hours per trip, would probably be too much for many people. However, with a new focus on remote working, there might be some people keen to exit the capital, and the surroundings of Melksham might be more appealing.
New buyers in the market
Analysis of activity in June and July suggests there are more buyers this summer than last. A lot of this is likely down to the lockdown period, but for July 2020, there were 66% more active buyers than there was in July 2019.
Rightmove’s property expert Miles Shipside explains: “Analysis on the number of active buyers in market both now and across the year so far shows it’s not just pent up demand being released and buyers returning to the market after the pause. It looks like the market has not only recovered all of the buyers that were lost throughout lockdown, but there’s also a new group of buyers now in market, prompted to move by the priorities for their home changing during lockdown, with the additional catalyst of the temporary stamp duty holiday turning the heads of homeowners. It’s worth noting that some of these buyers may have been looking to move later this year anyway, so we won’t have a clear picture on how many sales will have been lost in 2020 until early next year.”
If you are looking to make a move in the Melksham property market, and you would like to speak with local experts, please get in touch. If you would like to arrange a property valuation, contact us and we will set this up for you. You can phone Lock & Key on 01225 707 342 or why not come and visit us at 5 Church Street, Melksham.