Fresh research from the WhatHouse? New Homes Index has found that The South West of England is the fastest growing region for new home search in Britain, as the number of people searching for a new built property reaches 13,550 in September (13% of all UK searches). This is compared with an overall -28% decrease in new home search across the UK.
Summer Staycations triggering a regional boom
The data, released in this month’s WhatHouse? New Homes Index, indicates that the summer staycation boom is having a long-term effect. During August millions of holidaymakers escaped to the region and are now considering the South West as an antidote to lockdown and the answer to their search for open space and clean air.
Whathouse.com is the UK’s leading new home audience platform. For more than 30 years’ its aim has been to inspire UK homebuyer decisions around new property and the WhatHouse? New Homes Index is based on data sourced from the WhatHouse? New Homes audience platform, and reflect WhatHouse? user experiences and geographic market share. Data shows that:
The average price of new home property coming to market in the South West is £312.412 compared against the UK national average of £329,313, and of the top three new home search areas during September:
- South East of England has held onto pole position for the third consecutive month, achieving 25,658 new home buyer searches during September 2021.
- South West of England features in the top three new home search areas for the first time, achieving 13,550 new home buyer searches during September 2021.
- The West Midlands has held onto its top three spot for the third consecutive month (dropping from second position in August) with 12,355 new home buyer searches during September 2021.
Retirement property: Southwest high on the list
The South West of England is also experiencing the most regional search for new retirement properties, accounting for 19% of total UK retirement search during September 2021. Regional home builders report that access to the stunning coastal and rural communities in counties such as Cornwall, Devon and Somerset, and below national average new home asking price of £312,412 may have contributed to the rise in the South West’s new home search – as home buyers reassess what is important to them and aspire for a move and complete lifestyle change.
Daniel Hill, WhatHouse? Managing Director comments:
“From the search behaviour on Whathouse.com we can see that interest in new homes within the South West of England has soared during September, following a summer staycation boom which saw millions of holidaymakers escape to the region. Brits long for green space on their doorstep as a result of lockdown and with so many of us now able to work from home, it would seem that many are looking to counties such as Cornwall, Devon, Dorset and Somerset for the quality of life they crave.”