15/07/2020

South West proving popular with homebuyers as lockdown eases

With lockdown restrictions easing, more and more people are now considering a home move, and the South West has never been more popular with house buyers according to Bloor Homes. There are a number of factors that are contributing to the surge in interest in the housebuilder’s 10 developments across the region, in addition to the unwavering populate of the South West, the recent Stamp Duty holiday, the Help to Buy scheme and low interest rates are all proving to be influencing the decision to move home.

With lockdown restrictions easing, more and more people are now considering a home move, and the South West has never been more popular with house buyers according to Bloor Homes.  

There are a number of factors that are contributing to the surge in interest in the housebuilder’s 10 developments across the region, in addition to the unwavering populate of the South West, the recent Stamp Duty holiday, the Help to Buy scheme and low interest rates are all proving to be influencing the decision to move home. 

Added to this, many employers are now offering flexible working, and the option to work from home. This means that commuting and city living, which was a necessity before lockdown, is becoming less important and more people are reportedly looking to increase their quality of life with Wiltshire, Somerset, Devon and surrounding rural parts of Bristol are ideal options.  

Recent research from Lloyds bank found that 57% of those who worked from home during lockdown questioned feel there is less need to live in a city, which has undoubtedly prompted the surge in enquires across property websites,  as people search for homes in areas that offer a better way of living.   

“Although there does remain an amount of uncertainty, last week’s announcement on the Stamp Duty holiday saw a spike in interest amongst house buyers, looking to either move onto or up the property ladder” explains Sara Parker, Sales Director at Bloor Homes’ South West region. 

“If you add to that the fact that Help to Buy is still available for existing homeowners and interest rates are currently low, we are seeing a return of confidence in the housing market that we hope to continue”

London-based buyers are also looking to head towards the South West, with Knight Frank reporting that less than a tenth of buyers based on London were considering a move to the South West before lockdown.  This has now jumped to 20% since the restriction were enforced.  

“The overall recovery of the property market will depend on the wider economy”, continues Sara Parker, “but although they’re cautious, and are wise to do so, our buyers are keen to take advantage of the benefits of moving now.  It really is a good time to consider buying a new home.”

For more information on the developments across the South West, to make a 1-2-1 appointment to visit a Bloor homes show home, click here.