“How far do Baldock people go to move to a new house?” This was an intriguing question asked by one of my clients the other week. Readers of my property blog will know I love a challenge, especially when it comes to talking about the Baldock property market.
For the majority, the response is not very far. It is much more common for homeowners and tenants in Great Britain to move across town than to the next town or county. Until now, it’s been hard to say how many homeowners and tenants moved from and to relatively far away to buy or rent their new home. However, I carried out some research and requested some statistics from the Royal Mail and what came back was fascinating.
Using statistics for the 12 months up to the middle of Autumn 2016, 192 households moved out of Baldock and the average distance was 40.08 miles, the equivalent of moving from Baldock to Brackley as the crow flies. The greatest distance travelled was 448 miles, that’s almost 17 marathons, when someone moved to Bangor in Northern Ireland.
Considering there were 177 property sales in SG7 in the year and countless tenant moves, the numbers seem consistent. Once you find a town you like, you tend to want to settle down and if you do move, you might only move to a different neighbourhood, a better transport links or to be closer to the school you want to get your children into. The likelihood is however is that you won’t travel far.
I then turned my attention to people moving into Baldock. Using the same statistics for the 12 months up to the middle of Autumn 2016, 202 households moved into Baldock and the average distance was 28.82 miles, the equivalent of moving from Amersham to Baldock, again as the crow flies. The greatest distance travelled again was 496 miles, that’s the same as 19 marathons when someone moved from Garlogie in Scotland to Baldock.
I have looked at the data of every person moving into Baldock and these have been plotted on a map of the UK. Looking at the map below, it shows exactly where most people come from, when moving into Baldock. As you can see, there are a high proportion of people moving from London and from the South West.
So, what does all this mean for the landlords and homeowners of Baldock?
When an agent markets a property for rent or let, it is vital to know the tenant or property buyer well, that the properties they are letting / selling fit those tenants / buyers, so they almost sell themselves. These days that means not only knowing how many bedrooms, reception rooms a property offers but the budget buyers and tenants want to spend on a property in that area as well as where they come from.
The estate and lettings industry loves the mantra “location, location, location”. I say it might be helpful to factor in where and how far people are moving from, so the property can be sold or let more easily. Many say knowledge is power and whilst I do enjoy writing my blog on the Baldock property market, I also use the information to help my clients buy, let and sell well. So for example, the information gained from this article will enable my team and I to be more efficient in where to direct our marketing resources to ensure we maximise our client’s properties sale-ability or rent-ability.
For more information on the Baldock property market, call us on 01462 894565 or pop in for a cuppa