Real estate hotspots offering the best combination: Attractive homes, top-notch schools, and serene living conditions
In the ever-changing landscape of the property market, a new trend is emerging as families seek to relocate due to increased school fees and the rising cost of living. While specific relocation hotspots identified by Savills for this demographic have not been disclosed, there are several areas that are proving popular among families looking for a change of scenery.
One such region is the North West, known for its affordability, capital growth, and strong rental yields. Cities like Manchester and Liverpool, with their economic and educational opportunities, are attracting families in search of a fresh start.
For those seeking a more tranquil lifestyle, rural areas or smaller towns in regions such as Northamptonshire or Kent might be the answer. These locations offer a slower pace of life and lower costs in comparison to urban centres like London.
International locations like Dominica or St. Kitts and Nevis, which offer citizenship by investment programs and favourable tax regimes, are also appealing to some families considering a move abroad. However, these destinations may not be directly related to Savills' recommendations for families relocating due to school fees and cost of living.
In the UK, several counties are rising in the Savills ranking. These include Merseyside, Shropshire, West Yorkshire, Leicestershire, and Northamptonshire. In Shropshire, for instance, the family's search for good private schools away from London led them to the historic town of Shrewsbury, home to the renowned Shrewsbury School, known for its sporting focus and notable alumni such as Charles Darwin, Richard Ingrams, and Michael Palin.
Properties in Shropshire are seeing a surge in demand, with the average property price standing at £401,212, according to Savills research. In the heart of Shrewsbury, a grand, double-fronted villa with four bedrooms is currently up for sale with an asking price of £875,000 via Strutt & Parker.
Tunbridge Wells and Sevenoaks, both in Kent, have also been identified as relocation hotspots by Savills. These towns have outperformed the market in terms of annual house price growth. The average property price for a detached house in Lincolnshire is £309,600, up almost 7% since 2021.
Meanwhile, the demand for family-sized homes is soaring across the country. Dominic Agace, chief executive of Winkworth, reports a 13% increase in stock levels of such properties in the home counties compared to the same time last year. Agents across Winkworth's 100 nationwide offices are reporting huge demand and sealed bids for these homes.
In Staffordshire, with an average detached house price of £378,791 and 22 private schools, families are finding a balance between affordability and quality education. Similarly, in Leicestershire and West Yorkshire, the average detached house price stands at £422,970 and £413,210 respectively, according to Savills research.
As families continue to navigate the challenges of the current market, these relocation hotspots offer promising opportunities for those seeking a change while maintaining a focus on quality education and affordable living. For a more detailed list of Savills' specific recommendations, it would be advisable to consult their direct reports or publications.
- Families seeking a blend of investment opportunities in real estate and quality education might find Staffordshire appealing, with an average detached house price of £378,791 and 22 private schools.
- For individuals looking to invest in home-and-garden properties and experience a different lifestyle, rural areas or smaller towns like Northamptonshire or Kent could be a worthwhile consideration, offering a slower pace of life and cost savings compared to urban centers.
