Property solicitors have known for a long time, but now it’s official: the North West is a property hot spot. Victoria Marshall, Head of Conveyancing at Pearson Solicitors describes the region as ´an amazing place to live and work´.
WE are all so lucky to have access to open countryside sitting as this precious space does alongside a developing Manchester city centre full of culture. And helping sustain a growing economy we enjoy vibrant towns and villages, amazing restaurants and bars and now it seems everyone knows it’s a top spot.
Here at Pearson Solicitors, our property solicitors have been busier than ever. Local instructions range from two-bed terraced houses to multi-million pound homes as more and more people move into the area. They discovered the region on walks and trips during the pandemic when everyone was searching out their local countryside.
Stamp Duty tax breaks and changing priorities with a work life balance and more home working means our clients are often looking for bigger homes in which to live and work.
Towns and villages in and around the North West tick all these boxes.
Property Surveys
Surveys have revealed that the North West is the region with the highest annual house price growth, with average prices increasing by 15.2 per cent.
According to the Office for National Statistics (ONS) the average cost of a home is now £255,000, that’s a £23,000 increase on 2020.
Data from the Land Registry shows that detached and terraced homes have recorded the biggest price increases and this, again, is typical of our local property market.
As demand for property, especially a house with a garden or some outside space has increased, so supply has decreased with people staying put and investing in home improvements. This trend has pushed up prices so we have seen offers over the asking-price being made to secure that perfect home.
Residential property completions in June were 85 percent higher compared to the same month in 2019 and we property professionals we have been working all hours to get our clients into their new homes this summer.
In March 2020 house moves were stymied but the pandemic has affected property in many ways. We did not see a reduction in instructions but rather growth on growth and we have boosted our team accordingly.
People now see the benefit of living in the North West and we certainly couldn’t agree more it is the place to live and work.
For advice on your next house move contact the Pearson Solicitors Property team on 0161 785 3500 or email enquiries@pearsonlegal.co.uk