“How far do Rotherham people go to move to a new house?” This was an intriguing question asked by one of my clients the other week.
Readers of this blog will know I love a challenge, especially when it comes to talking about the property market!
Not very far…
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, 261 households moved out of Rotherham (S60), moving an average distance of 28.08 miles. This is the equivalent of moving from Rotherham to Leeds (as the crow flies). The greatest distance travelled was 294 miles – that’s more than 11 marathons (when someone moved to Penzance).
Considering there were 515 property sales in S60 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. If you do move, other factors are usually in play – you might only move to a different neighbourhood for better transport links or to be closer to the school you want to get your children into. The likelihood is you won’t travel far.
What about people moving into Rotherham?
I then turned my attention to people moving into Rotherham. Using the same statistics for the 12 months up to the autumn 2016, 291 households moved into Rotherham (S60). These households moved an average distance of 23.56 miles – the equivalent of moving from Gainsborough to Rotherham (again as the crow flies). The greatest distance travelled was 238 miles – that’s more than 9 marathons (when someone made the great decision of moving from Woolwell, Devon to Rotherham).
I have looked at the data of every person moving into Rotherham 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 Rotherham. 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 Rotherham?
When an agent markets a property for rent or let, it is vital to know the tenant or property buyer well. It’s important that the properties they are letting/selling fit the tenants/buyers, so that they almost sell themselves. These days this means not only knowing how many rooms and features a property offers but also being switched on to the budget that buyers and tenants are likely to want to spend on a property in that area. Knowing where someone comes from can be very useful.
Location, Location, Location…?
We’ve all heard the mantra “location, location, location”. However, 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.
Whilst I enjoy writing this blog, it’s also valuable research so that I can help my clients buy, let and sell well. The research in this article will actually enable my team at Bricknells Rentals to be more efficient in where to direct our marketing resources to ensure we maximise our clients’ properties rent-ability. I’ll also be able to advise prospective buy-to-let landlords a lot more effectively.
It’s a win-win situation. My research is valuable to me – and judging by the response to these blogs, it’s been valuable to people across Rotherham and further afield.