As property prices continue to rise above last year’s predictions, Swindon is a hotspot right at the heart of it all. At present, it shows little sign of grinding to a halt, so with that in mind, what does this Wiltshire town have to offer?
It doesn’t matter where you’re buying or selling, there’s certainly money to be made on both sides of the coin. As many people from the capital, its suburbs and surrounding areas resign themselves to the fact that property prices are staggeringly high and rent is bordering on unaffordable, people have started to look outwards.
It’s no surprise that Swindon has become a beacon of hope for many potential buyers; it possesses everything you could need within easy reach of London but also offers far larger homes in many smaller towns and villages with plenty of green spaces, lifestyle options and highly ranked schools.
According to data from Rightmove and Oxford Economics, property prices are set to rise by 33% in London by 2019, causing the south’s real estate market to increase by a whopping 37%.
What does this mean for the local property market?
As property prices rise, city dwellers are far more likely to cash in and try to find a new place to call home in the south-east and south-west. This could see many local homeowners who are looking to sell make a big payday on their home, with those sorts of increases a house currently worth under £250,000 today could add £100,000 to its price tag in the next five years. While this may sound like many are biding their time, southern areas like Swindon are already seeing the increases and people are already making a profit, with the local land registry noting many have seen returns of 25 to 55% since the end of 2016.
The most important thing for sellers going forward, especially if they do not wish to remain in the area, is that they market their homes well, with premium agents who will walk them through just how to sell their home at its current price.
For external buyers with cash signs in their eyes, the dream home they picture is still possible. But many are concerned that rising property prices may deter many first time buyers from choosing Swindon as a location as prices continue to increase. Our advice is that all first time buyers begin consulting with experts now to get ahead of the increases and secure themselves and still benefit from all the Swindon area has to offer. It’s still going to be achievable this year, but after that, the price tide is going to pull many prospective buyers further away from southern areas if they’re too cautious.
For those looking to sell or buy a home in the Swindon area, Moovahome is rated among the best estate agents in the area, so get in touch today!