The last year has been a really challenging one for a lot of different reasons. The circumstances of being in lockdown have forced many of us to look at our immediate surroundings and decide that a change is in order. In the UK, this need for change has kept the housing market buoyant all throughout 2020 and into 2021. At various times throughout the Covid crisis, experts were predicting a housing bubble in line with some of the economic strains seen, but nothing has come to fruition.
Driven by the fact that the majority of Brits will continue to work from home even after restrictions are fully lifted, the housing market has gone from strength to strength. The UK government had originally delayed the need to pay a stamp-duty tax on house purchases, driving some level of interest. The end of the stamp duty holiday has been pushed back to summer, so buyers are still trying to get their purchases through to save money on the tax.
A City Exodus
If we continue to focus on the UK housing market, we can see that many people are questioning the need to be in a city centre at all. With so many white-collar office jobs giving up the idea of having people working in an office, a lot of people in the housing market are making the decision based on the fact that their home will be where they work from.
London famously has a problem for young people getting on the housing ladder. Reports from the last year have revealed that a lot of millennials have now opted to move to the satellite towns of the UK capital in search of cheaper housing and a better work-life balance. Better still, some people who would traditionally have to work from a city centre office have opted to trade it all for the countryside.
For some house buyers feeling a little more footloose and fancy-free, Scotland has drawn their attention. Scotland offers a lower cost of living than other parts of the UK, and the North East and Aberdeenshire have relatively low house prices. As a tourist destination, Scotland often tops the polls as one of the world’s most beautiful countries. It’s clear to see why a move here would be appealing for those who want to escape the humdrum of modern life.
Aberdeenshire didn’t always have such low property prices. The town is the centre of the UK’s North Sea oil industry and was typically an expensive place to buy. In recent years, the oil market has fallen out, and as a consequence, the city and surrounding area is now a much cheaper place to buy a house. Across the whole of the UK, first-time buyers should be looking North if they want a change of scene and more bang for their buck.
Rural Yet Connected
If you feel that this option might appeal to you, there are a number of places all throughout Aberdeenshire that are well with looking into a move. Local property experts would recommend somewhere like Bridge of Don as an ideal place to enjoy the countryside on your doorstep, with the city of Aberdeen just a short distance away.
Creating this balance between cheaper, less urban properties without feeling too cut off from what you might enjoy from living in the city is what many young people in the housing market are looking to do. Aberdeenshire is well equipped to cater to this growing market. It will be interesting to see how these stepping stone communities between urban and rural areas develop as people in the housing market decide that the want the best of both worlds.