Plymouth has been revealed as one of the property hotspots of the UK due to rising house prices. Exciting news for sellers, who may get more than they bargained for when selling their Plymouth property.
Thanks to Rightmove’s data, Plymouth’s popularity is more evident than ever. With excellent connections, tourism, and an exciting vibe, who wouldn’t want to live in the Ocean City?
Keep reading to explore the reasons behind these figures.
What’s Happening To Plymouth’s House Prices?
The Rightmove data showed the general rising trends in the UK and which cities have the most interest in 2022.
Plymouth was placed fourth on the list, making it into the top 5 property hotspots nationwide. The average house prices in Plymouth are now £231,914, and the area has seen a 12.5% rise in price.
Since lockdowns and the boom of remote working, more and more families are looking to cities like Plymouth to settle down. Instead of living in busy cities, homeowners seek alternative areas for better family life and natural landscapes.
Plymouth offers the best of both worlds. This city provides a unique coastline and gorgeous natural areas, yet the city centre never stops and gives locals a chance to eat, drink, and enjoy.
Other Property Hotspots
Alongside Plymouth, the Rightmove survey highlighted house prices rising in other UK areas.
At the top of the list is Bath, with a 15% jump in asking prices. This is the most significant increase on the list, proving Bath’s current popularity.
The second spot was taken by Truro, with a 14.8% jump in prices – proving the popularity of coastal areas. Other locations taken in the top five include Gloucester and Southend. It looks like the country and the coast are the two in demand areas for 2022.
General UK Property Trends
What’s causing this increase in some regions of the market?
Rightmove’s Director Of Property Data, Tim Bannister, noted “Since the pandemic started, we’ve been tracking interesting changes in buyers’ relationship with cities. In the first stages of the pandemic, we saw the popularity of some major cities like London temporarily drop as more people looked for more space.”
If there’s one thing the last few years have taught us, the large majority is looking to slow down. The once-popular London life isn’t the rage, and buyers are searching for alternative options.
House prices are shooting up as the demand outweighs the supply. If you’re considering selling your Plymouth home, now is a great time to get on the market for a great price.
Final Thoughts
Whether you’re buying or selling, it’s important to note the general property trends in your area. It’s exciting to see this extra interest in Plymouth, as this city has so much to offer. From tourist attractions to quaint streets, this city is a gem on the English coastline.
Are you ready to move? The Pilkington Estates team is always prepared to provide expert help and tailored advice. Contact us here.
