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. What came back was fascinating!
Using statistics
for the 12 months up to the middle of Autumn 2016, 486 households moved out of Stoke-on-Trent,
moving an average distance of 32.17 miles - the equivalent of moving from Stoke-on-Trent
to Chester (as the crow flies). The
greatest distance travelled was 333 miles – that’s more than 12.5 marathons
(when someone moved to Dingwall in Scotland).
Considering there
were 763 property sales in ST4 for example 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 neighbour-hood, or for better
transport links or, to be closer to the school you want to get your children
into, but the likelihood is you won’t travel far.
I then turned my attention to people moving into Stoke-on-Trent. Using the same statistics for the 12 months up to the middle of Autumn 2016, 373 households moved into the ST4 area of Stoke-on-Trent, moving an average distance of 33.86 miles - the equivalent of moving from Wrexham to Stoke-on-Trent (again as the crow flies). The greatest distance travelled was 314 miles – that’s more than 12 marathons (when someone moved from Peterhead in Scotland to Stoke-on-Trent).
I have looked at the
data of every person moving into Stoke-on-Trent 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 Stoke-on-Trent. As you can see, there are a high
proportion of people moving from London and the South East.
So, what does all this mean for the landlords and
homeowners of Stoke-on-Trent?
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 etc., 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 Stoke-on-Trent property market, I also use the information to help my
clients buy, let and sell well. So for example, the information gained for this
article, will enable my team and I to be more efficient in where to direct our
marketing resources to ensure we maximise our clients’ properties sale-ability
or rent-ability.
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