We all know the old adage of the North and South and the alleged divide between them, certainly during my time in the industry it has been around – and not just in property prices, also trade, economics, health and life expectancy and culture. This supposedly North vs South divide apparently lies just above Watford Gap area and has been the monitor for a substantial amount of statistics over the years, giving the media plenty of headlines!
One of the UK’s leading property agents, FJP Investment have come up with a report stating second –stepper homes in the North are by far predicted in the run up to Christmas to sell more quickly than the South, I can believe this to be true taken into account the fact that properties in the North are by far cheaper than Southern properties, you don’t have to be a genius to see why that would be.
Maybe we should be more forward thinking or simply change the dynamics and view the UK either as a whole with no divide as such.
Is the market in Central London slowing down as is being told to us by those in the “know”? Are the prices being driven so high by overseas buyers that people already living in the UK can no longer afford to buy in the places they were brought up in? The data chooses to compare North and South and how the North is benefiting from this situation, pushed along one suspects by the Government backed Midlands Engine and Northern Powerhouse creation which obviously keeps the focus on the North of England.
So where does the rest of the UK stand in all this?
Tom Roberts of FJP Investments said “it may well be time to start considering a South West vs South East divide, I believe with the obviously over inflated London property prices including the South East, property prices in the South East still remain somewhat affordable, for example a property of the same type in Bristol would be valued at around £300,000 as opposed to the same in London which would be trying to sell at a price of £500.000 plus, or indeed Surrey, at well over £400,000.
There now would appear to be a trend of people relocating from the more expensive areas, although not downsizing but indeed downsizing their mortgage repayments whilst keeping their living standards the same, will this trend continue and if so what will happen to the London markets in the future?
The South West has much to offer, such as good schools, many cultural and leisure facilities, good employment opportunities and good transport links, maybe this year will see a significant rise in the relocation once again. Another aspect that has certainly become a main talking point amongst us is the “home Working” opportunity, whether it be from your own office desk in your home or from a designated office space in an office which you can use when you desire. With technology enabling us to work without the pressures of a two hour or more commute to the office each day this seems much more sensible to the entrepreneurs and every day workers and indeed also to the owners of companies who do not want the overheads of large offices where their staff spend time chatting around the coffee machine at their expense!
So, to summarise, I believe the comparing of North and South has now run its course and we are better to simply embrace the diversity and celebrate that fact.
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