Rediscovering the UK's Hidden Gems: Top Choices for Downsizers
Top UK Areas Experiencing Growth in Smaller Homes Purchases: Experts Identify Thriving Markets with Higher Demand for Compact Dwellings
Bypassing the conventional destinations for downsizers, people are now opting for unexpected locations, as priorities shift for the new wave of home movers seeking smaller accommodations. Here's the lowdown on the unsuspecting dream locations!
The Appeal of Bursting Towns: Scoring a Gem in Framlingham
Traditional dream destinations like the Cotswolds or Malvern Hills might leave you dumbfounded, as they're conspicuously absent on our list. Instead, areas like East Suffolk, Peterborough, and Milton Keynes are taking the center stage, thanks to promising transport connections and vibrant city centers, attracting many downsizers.
Richard Donnell, executive director at Zoopla, points out that this trend signifies a broader shift in priorities. "Good-bye to the quiet years locked away in a remote village – it's all about being active, close to cities, or on good train lines!"
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East Suffolk: The Number One Preferred Haven
Boasting the highest share of downsizers, East Suffolk leads the pack, with 48% of all moves in the past year made by those pocketing a smaller home. From scenic seaside towns like Felixstowe to quaint hamlets, East Suffolk no doubt holds an allure for downsizers from afar, with its diverse landscape and accessible train connections.
Sophia Fuller, head of Suffolk at Strutt & Parker, isn't surprised by its popularity, saying, "Downsizers here primarily come from out of area. It's always been popular, as there's not just one seaside town here. Their children can come easily on the train from London, too!"
The average downsizer in Crawley, a surprising addition to this list, spends around £284,900 on their new home, as they make up 37% of all moves here. With its excellent train links to London and proximity to Gatwick Airport, retiring jetsetters will undoubtedly find their wing-span with this location.
On the Hunt for Younger Downsizers
Experts like Richard Donnell, of Zoopla, state that there are two categories of downsizers: the "enforced" ones and the "aspirational" ones. The former group typically moves due to circumstances like widowhood or health concerns necessitating a move closer to family. The latter group, however, actively chooses to make the move before it becomes necessary, often drawn to more active and energetic areas.
David Fell, Hamptons lead analyst, notes that this proactive group of downsizers are more likely to gravitate toward busy rural locations. Donnell further mentioned that downsizers are getting younger, as the increasing living costs encourage older homeowners to downsize and tap into even more equity.
Moving to South Northamptonshire: A Dream Come True
For those seeking picturesque markets towns, South Northamptonshire fits the bill. With a market town like Towcester and charming villages like Hartwell and Stoke Bruerne, this area attracts downsizers, with 34% of all moves being made by this demographic. The average downsizer here releases £245,900 in equity, making it an appealing choice for those looking to unlock more wealth from their property.
Coastal Towns with the Best Bang for Their Buck
Downsizers need not envision retirement in Bournemouth, St Ives, or Saundersfoot, as classic coastal towns aren't preferred among today's home movers. Instead, more affordable areas such as Denbighshire in North Wales and Arun, home to Bognor Regis, are more popular destinations for homeowners transitioning to smaller homes.
Denbighshire takes the second spot, as 44% of all moves to the area in the past year were made up of downsizers. The allure of value for money should draw downsizers to the coastal areas, says experts.
A One-Bedroom Cottage by the Sea – Moving to Your Dream Retirement
From Bridgnorth High Street to the west coast of Arun, there's a plethora of delightful opportunities for downsizers. Embrace the change and enjoy the seaside in these affordable and charming locations!
- For those interested in home mortgages, it's worth checking out the best rates as downsizers are increasingly preferring unexpected locations such as East Suffolk, with its scenic seaside towns and accessible train connections.
- As priorities shift for home movers seeking smaller accommodations, downsizers are flocking to areas like South Northamptonshire, known for its picturesque markets towns and offering a great bang for the buck.
- If you're a fashion-and-beauty enthusiast, you'll find plenty of choices in Crawley, a popular destination among downsizers, where you can spend your days shopping and pampering yourself after moving into your new home.
- For those who love to travel, Denbighshire in North Wales is a great choice for downsizers, offering a more affordable alternative to classic coastal towns like Bournemouth and St Ives, but still providing a charming seaside lifestyle.
