52.8 miles – The average distance people go to escape living in Shefford

Baldock 170

“How far do Shefford 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 Shefford 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, 204 households moved out of Shefford and the average distance was 52.79 miles, the equivalent of moving from Shefford to Coventry as the crow flies.  The greatest distance travelled was 665 miles, that’s almost 25 marathons, when someone moved to Gorseness in Scotland.

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Considering there were 173 property sales in SG17 in the year and countless tenant moves, the numbers seems 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 Shefford.  Using the same statistics for the 12 months up to the middle of Autumn 2016, 247 households moved into Shefford and the average distance was 32.90 miles, the equivalent of moving from Newmarket to Shefford, again as the crow flies.  The greatest distance travelled again was 428 miles, that’s the same as 16 marathons when someone moved from Magheragall in Northern Ireland to Shefford.

I have looked at the data of every person moving into Shefford 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 Shefford.  As you can see, there are a high proportion of people moving from London and from the South West.

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What does all this mean for the landlords and homeowners of Shefford?

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 Shefford 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 Shefford property market, give us a call on 01462 894565 or pop into the office for a cuppa

Investment opportunity – Shefford town centre!

Sheridans in Shefford are marketing this two bedroom apartment for £160,000.  In a good development, right in the centre of town this property has NO UPWARD CHAIN and should achieve a rental yield of around 5%.  Give Sheridans a call before it goes.

For more information about the Shefford market and lettings give us a call on 01462 894565 or pop in for a chat.

 

6.82 Babies born for each new home built in the Shefford area

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As more babies are being born to Shefford and Central Bedfordshire mothers, I believe this increase will continue to add pressure to the over stretched Shefford property market and materially affect the local property market in the years to come.

On the back of eight years of ever incremental increasing birth rates, a significant 6.82 babies were born for every new home that was built in the Central Bedfordshire Council area in 2016.  I believe this has and will continue to exacerbate the Shefford housing shortage, meaning demand for housing, be it to buy or rent, has remained high.  The high birth rate has meant Shefford rents and Shefford property prices have remained resilient, even with the challenges the economy has felt over the last eight years, and they will continue to remain high in the years to come.

This ratio of births to new homes has reach one its highest levels since 1945 (back in the early 1970’s the average was only one and a half births for every household built).  Looking at the local birth rates, the latest figures show we in the Central Bedfordshire Council area had an average of 66.7 births per 1,000 women aged 15 to 44.  Interestingly, the national average is 61.7 births per 1,000 women aged 15 to 44 and for the region its 67.6 births per 1,000 women aged 15 to 44.

166 - National Graph JPEG (fixed graph) - to be used to add weight to your local graph

The number of births from Shefford and Central Bedfordshire women between the ages of 20 to 29 are close to the national average, but those between 35 and 44 were much higher.  However overall, the birth rate is still increasing, and when that fact is combined with the ever-increasing life expectancy in the Shefford area, the high levels of net migration into the area over the last 14 years (which I talked about in the previous articles), and the higher predominance of single person households … this can only mean one thing … a huge increase in the need for housing in Shefford.

Again, in a previous article a while back, I said more and more people are having children as tenants because they feel safe in rented accommodation.  Renting is becoming a choice for Shefford people.

The planners and politicians of our local authority, central government and people as a whole need to recognise that with individuals living longer, people having more children and whilst divorce rates have dropped recently, they are still at a relatively high level (meaning one household becomes two households) … demand for property is simply outstripping supply.

The simple fact is more Shefford properties need to be built, be that for buying or renting.

Only 1.1% of the Country is built on by houses.  Now I am not suggesting we build tower blocks in the middle of the Cotswolds, but the obsession of not building on any green belt land should be carefully re-considered.

Yes, we need to build on brownfield sites first, but there aren’t hundreds of acres of brownfield sites in Shefford, and what brownfield sites there are, building on them can only work with complementary public investment.  Many such sites are contaminated and aren’t financially viable to develop, so unless the Government put their hand in their pocket, they will never be built on.

I am not saying we should crudely go ‘hell for leather’ building on our Green Belt, but we need a new approach to enable some parts of the countryside to be regarded more positively by local authorities, politicians and communities and allow considered and empathetic development.  Society in the UK needs to look at the green belts outside their leisure and visual appeal, and assess how they can help to shape the way we live in the most even-handed way.  Interesting times!

 

Thinking of investing in Shefford….?

This riverside two bedroom apartment in The Wharf is on the market with Wilson Peacock in Biggleswade for £200,000.  With a potential yield of around 5% this is really worth considering!

Have a look at the Rightmove advert and call Wilson Peacock ASAP to view it before it goes!

Looking to invest in Shefford?

This three bedroom house is on the market through Purple Bricks with an asking price of £250,000. An ideal purchase for an investor with a potential yield of 4.8%. View ASAP before it goes.  Take a look at the video above and click here for the rightmove advert

Pop into our office for a cup of tea and a chat about the Shefford property market and lettings or call us on 01462 894565.