30/11/2020

DEMAND FOR SOUTH WEST HOMES RISE AS BUYER MARKET HITS ALL TIME HIGH

New research shows that over the past ten years, it is the South West region that has topped the demand within the housebuilding market. That’s according to national housebuilder, Bloor Homes, who report that enquiries from people planning to buy a home within the region has skyrocketed in recent weeks.

 New research shows that over the past ten years, it is the South West region that has topped the demand within the housebuilding market.

That’s according to national housebuilder, Bloor Homes, who report that enquiries from people planning to buy a home within the region has skyrocketed in recent weeks.

Sara Parker, Sales Director at Bloor Homes South West, said: “It appears more people are buying homes with a view to not going back to the office. Pent up demand has been due to people racing for additional space in their home, with people sought to buying bigger homes. This has created a surge in bigger homes, preferably with big gardens, which are flying off the market. 

“Across our developments in the South West, buyers have been asking about the space available in our homes to set aside as a dedicated place for work. Many of our properties already offer a study, but in some of our homes we are adjusting the space to create a home office. 

“The pandemic has led to many people moving out of big cities into more rural locations, as the need to commute has decreased significantly. This has changed markedly since lockdown, with home offices elevated up the wish list instead.” 

New research has shown that the stock of homes within the South West has increased 9% between 2009-2019. House prices within the South West have also risen by 6.4% in the year to the end of September, compared with a UK average rise of 4.7%, the Office for National Statistics (ONS) said.

Sara said: “If working from home, permanently or more regularly, does become a more widespread choice for the UK workforce, it will have a major implication on the housing market. It will determine the types of homes and locations that are in demand for many UK buyers.

“We have certainly seen this across our sites in the South West, with buyers attracted to the more rural locations and homes offering larger gardens. We have a range of homes to suit everyone, from first-time buyers and young professionals to families and those looking to downsize. Buyers purchasing before 31 March 2021 can take advantage of the current stamp duty holiday.”

To find out more about Bloor Homes’ developments across the South West, please visit bloorhomes.com/south-west