“Coastal towns are attracting First-Time Buyers from London at a faster rate than in the last 19 years.” Which.co.uk
Hampshire is home to historical coastal cities, Southampton and Portsmouth and they’re fast-becoming in-demand areas for families looking to move from London and escape to the coast.
Families want more for their money and with the Hampshire property market thriving, you can benefit from the recent increase in demand. Find out more.
“Although there has been some doom and gloom generated by Brexit, the property sector has remained resilient,” comments Ian Lee, director of McAndrew Martin’s General Practice department, a leading independent chartered surveyor that operates in Surrey.
“Competitive mortgage rates and Help to Buy have encouraged more first-time buyers into the market, which has been reflected in our own increase in transactions during 2018.”
With unaffordable house prices across London, first-time buyers looking to start a family have begun looking to move further away from the capital, which is why Hampshire is becoming a popular destination. First-time buyers set to RISE in 2019.
Ian Lee, a former chairman of the Portsmouth Property Association (PPA) also added, “I have been working in the area for more than 25 years….we have seen every peak and trough in the property market during this time, and there is every reason to be upbeat about the sector.”
According to our Hunter Research Property Development team, who pulls data from a number of established estate agents and property specialists in Hampshire, there is a common trend that first-time buyers are focused on semi-detached and modern terraced, town and starter home housing.
This said, Hampshire has a lower than average level of income that other home counties so building larger flats with more than 2 bedrooms can also be an idea for the lower budget buyer.
Hampshire’s population of 1,317,800 has increased in average age since 2001 with the percentage of those aged 45 and above growing by approximately 25%. The amount of children beneath the age of 4 has also increased, implying more and more families are moving into Hampshire.
Property for Sale in Hampshire – Zoopla.
A common misconception about property development is that the more bedrooms inside a home automatically make it more desirable for first-time buyers. But is that really the case? Not in Hampshire.
With lower incomes and hence lower deposits, the opposite to Essex is true ie building no frills housing is a far more attractive idea to keep sale prices lower and to reduce the time the property is on the market. Still the best bet is for small houses.
David Fell, a research analyst at Hamptons explains that “The number of Londoners buying outside the capital hit 70,000 last year with around two-thirds ending up in the commuter belt. But with prices outside the M25 outstripping those in the capital for 12 months, London leavers have been pushed even further afield.”
It’s important not to compromise living space for bedrooms during the concept stage of your property development.
Potential first-time buyers are moving away from London to Hampshire to get affordable housing that they want to live in. Open plan living / kitchen spaces are now non negotiables
If you have any further questions about our property development finance, give us a call on 01825 749721. You can also contact us here for more information and we’ll get back to you as soon as possible.