Households want more space, they want a more enjoyable quality of life, and with remote working now commonplace, many people are no longer tied to living close to their place of work. It is no surprise to see many mature homeowners looking to move home.
Are you looking to move home soon?
According to a study by a leading insurance company, 12% of people aged 50 or older in the UK plan to relocate. People in this age group are now planning house moves, with the following reasons being important:
· Wanting to live somewhere that provides a better quality of life, cited by 7% of respondents
· A desire to live closer to family and friends was said by 4% of respondents
· Looking to live abroad was stated by 3% of respondents
Things to consider before deciding it is time to move:
· The equity on your current home, and how it can be best used
· How future proof will your new home be?
· How will your living costs be affected by a move?
· Will it be easy to maintain (or improve) your current lifestyle when you move?
Claire Singleton, CEO, Legal & General Home Finance, comments: “Relocating in retirement was already a well-observed trend, with older people reprioritising their needs as they enter the next stage of their life. As with many aspects of our lives, the challenges of the pandemic seem to have led many people to take stock of their current living situation. There can be many benefits to relocation, whether it is a better quality of life, more space or even the opportunity to be closer to loved ones. One thing that is clear is that many people will also see their decision informed by how their property wealth factors into their long-term financial planning.”
We know the Newton-le-Willows housing market
According to Rightmove, the Newton-le-Willows housing market, as of the end of June 2021, can be described as such;
“Properties in Newton-Le-Willows had an overall average price of £177,204 over the last year.
The majority of sales in Newton-Le-Willows during the last year were semi-detached properties, selling for an average price of £172,296. Terraced properties sold for an average of £139,079, with detached properties fetching £264,645.
Overall, sold prices in Newton-Le-Willows over the last year were 6% up on the previous year and 14% up on the 2018 peak of £155,376.”
As local agents in Newton-le-Willows, we are keen to support vendors, buyers and landlords in the area as best we can. We offer an extensive range of services, aimed at helping you make your next move with confidence.
If you would like to arrange a property valuation, or discuss your property options, please call Fraser Reeves on 01925 222555.