Home Prices: Cheaper suburban towns where buyers can save thousands

Real estate is a great investment and many will have to save over several years to gain access to the property manager. With cities inaccessible to many because of the cost of living, the latest study from real estate developer StripeHomes shared the best suburban belts where home buyers can save thousands of dollars on a new property while living in one. Suburban belt. local city.  

New build costs an average of £ 268,200 in Cardiff, but in the surrounding areas, including Rhondda Cynon Taf, new build prices are much cheaper and could save buyers 27%.  

A transfer from Edinburgh to West Lothian would also result in the same savings of £ 87,343, with a train time between the two of just 36 minutes.  

Research shows that adding an average of 10 minutes to travel time lowers the average home price by £ 21,000.

Moving from Newcastle to Gateshead or from Leeds to Bradford would save new home buyers more than £ 60,000.

Jame Forrester, Managing Director of StripeHomes, said, " The current pandemic has changed the real estate priorities of many buyers who are now looking beyond our major cities for a cheaper option with more indoor space. like outside.

"The good news is that most of these cities are surrounded by at least one cheaper option, but moving to the suburban belt doesn't always guarantee a price cut.

"On average, only 38% of the areas around these top 20 cities are cheaper to new home than the city itself, so some buyers may have to look further to find the right property at the price. Correct. . .

"As demand continues to grow in these peripheral areas, this trend may continue as prices for suburban belts continue to rise."

Birmingham, Sheffield, Glasgow, Liverpool, Manchester, Swansea, Oxford and Portsmouth also see discount opportunities for new buildings if the city moves to one of the surrounding suburbs.

A transfer from the city of Cambridge to the south of Cambridge would reduce the price paid for the new building by £ 146,822, despite the good transport links between the two.  

Moving out of the city isn't always cheaper, however, and buyers should always research before deciding on a location.

The cost of buying a new home in areas like Bristol, Nottingham, Bournemouth, Plymouth, Leicester and Southampton is actually cheaper than buying in the cheaper area around these cities.  

In Southampton, the average price for new homes is £ 229,007, with the local New Forest area being £ 91,972 more than the city.  

Let's block ads! (Why?)