Potential buyers from down south do like to be beside the seaside – particularly in the North East, according to a report by The Evening Chronicle
The prospect of a new way of life in the North East has seen a surge in in interest from buyers down South in Whitley Bay properties, according to a report.
In the three month since end of the lockdown in July to September, the North Tyneside town’s Trading Places Estate Agents has seen one in four buyers come from people in the South, with a particular interest from London.
Managing Director Lauren Scott-Simpson. said: “As the old song goes, people do like to be beside the seaside and do like to stroll along the Prom!
“The pandemic has changed the kind of property people want to buy, and for us we’ve seen a huge flavour of people wanting to come up from the south.
“Almost every sale we have put on has had people from the South viewing and offering which was unheard of before.
“People are wanting holiday lets, buying second homes, moving to live here, and many are wanting to return after moving away.
“They want to spend time on the beach, soak up our shops and restaurants, and have a better family life, which is lovely to hear when they want that in Whitley Bay.”
One such couple, Paul and wife Louise Weedon, are on the hunt for a family house in Whitley Bay with their six-month old daughter Amira.
After selling their apartment in Stratford, East London, the move will bring them closer to Louise’s family in North Shields and provide them with the lifestyle change they crave.
Mr Weedon, 45, said: “Having lived in London for almost 40 years between us we were looking for a slower pace of life and Whitley Bay gives us that peace and quiet by the coast.
“After lockdown we just needed a change and having our daughter helped speed up our decision.
“We’ve already sold our old apartment and are now renting a converted barn overlooking the sea – so it could not be more different to London!
“It’s a very family-oriented area here, has some good schools, Louise’s family are close, and we can get so much more for our money too.
“A four-bed house around 2,000 sq ft would cost around £1.5 million in Stratford whereas the equivalent in Whitley Bay will be about £500,000.
“We’re just excited now to find a property with a bit of character and history that will work as our family home.
“We have started looking and have seen some which fit the bill and we are confident we will secure the right one for us soon.”
Nationally, the average UK house price rose around £4,400 in September to a new high of £267,587, with house prices now 7.4% higher than a year earlier.
House prices in Whitley Bay have also risen year-on-year to a current average listing price of £241,747.
Mrs Scott-Simpson added: “Prices for sales and rentals have risen massively here, as they have done nationally.
“Part of it is demand as there’s not enough stock coming onto the market and more people are wanting to buy, but also there’s lots more purchasers as there’s people from all different areas who are buying due to the impact of Covid-19 on housing demand and the reinvigoration from the Stamp Duty holiday.
“That is starting to have a knock-on effect on the more local buyers.
“In the last week alone, we have had two people from the South making high offers as they can afford to do so as they have sold theirs for higher prices, but that is also driving the price up for others.
“It is making the market that bit more competitive, but on the flip side it shows property is thriving here in Whitley Bay and that makes now a really good time to sell with us.”
Article by Evening Chronicle