Zoopla research shows southerners are searching further for their next homes whilst northerners stay local

The average buyer looks for their next home locally usually within 3.9 miles of their current home, but southerners and people in cities are now much more likely to look further.

People search for a new home on average only 3.9 miles away.

Zoopla’s data shows that the average buyer looks for their next house 3.9 miles away, while 75% of buyers only enquire on homes in a couple of neighbourhoods.

In 2021, the distance between someone’s home and the homes they enquired about increased to 4.4 miles on average. During the pandemic, the market became more competitive and looking elsewhere to buy a home became a better tactic. This allowed people to find a home that suited their budget as house prices soared.

Southerners look further while northerners stay local.

Zoopla’s data shows a large difference in where people are looking for their next property for different regions.

In the East of England, half of buyers and 43% of buyers in the South East are looking for a new home 10 miles away or further. They are more open to the idea of moving across the city or to a neighbouring town.

On the other hand, 60% of buyers in the Midlands and the North of England are enquiring for properties in their local area (within 5 miles) compared to the national average of 50% of buyers looking within 5 miles.

City dwellers are having to search further for houses rather than flats.

Buyers looking for properties such as detached houses and bungalows are more likely to search further afield. This is simply due to some types of properties not being available in some regions.

For example, in Manchester, only 1 in 27 properties on the market are a detached house, this is causing buyers to search 23 miles away on average to buy such a home.

Similarly, in London based buyers looking to purchase a detached house are enquiring for properties approximately 11.5 miles away from where they currently live.

In Edinburgh, the majority of homes are flats (64%), those who are seeking to become a house owner are typically looking 10 miles away from their current location.

What benefits are there for moving further away?

For many, choosing a location to move next is a balancing act of selecting areas that have the right type of homes at the right price point and fit your lifestyle.

With the new climate of working from home, new doors are opening for people who have previously been required to live in major cities as they are now able to be more flexible and move further afield. For others, job locations are a major factor in where they decide to search for a new home.

The type of property is another major factor driving the choice of location. People in cities are struggling to find larger houses whereas those in rural areas find it harder to find suitable flats. Therefore, as a buyer, you may have to explore multiple locations to find your dream property.

In areas where it is more expensive to buy, extending your search range into more affordable areas may lead to better value to money and smaller mortgage repayments.

How can Brooklyns Financial help?

If you are looking for your first new home or are a home mover and need to assistance in finding the right mortgage of you then contact one of our Mortgage Brokers.  We will advise you on the options available that are bested suited to you. We are here to help you every step of the way Just give us a call 01628 564631 or email us info@brooklynsfinancial.co.uk for an initial chat?

Your home may be repossessed if you do not keep up repayments on your mortgage.

The information contained within was correct at the time of publication but is subject to change.

Source: 
Zoopla - Southerners searching further for their next home while Northerners stay local - 03/10/2023