“How far do Stotfold 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 Stotfold 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, 151 households moved out of Stotfold and the average distance was 32.03 miles, the equivalent of moving from Stotfold to Buckingham as the crow flies. The greatest distance travelled was 514 miles, that’s almost 20 marathons, when someone moved to Banachton in Scotland.
Considering there were 141 property sales in Stotfold 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 Stotfold. Using the same statistics for the 12 months up to the middle of Autumn 2016, 164 households moved into Stotfold and the average distance was 28.90 miles, the equivalent of moving from Aylesbury to Stotfold, again as the crow flies. The greatest distance travelled again was 354 miles, that’s the same as 13 marathons when someone moved from Parkhead in Scotland to Stotfold.
I have looked at the data of every person moving into Stotfold 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 Stotfold. As you can see, there are a high proportion of people moving from London and from the South West.
What does all this mean for the landlords and homeowners of Stotfold?
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 Stotfold 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 and advice about the Stotfold property market, give us a call on 01462 894565 or pop into the office for a chat – we don’t bite!