By choosing to live just outside highly sought-after locations, analysis has shown that homebuyers could benefit from savings of up to 55%1, without forsaking their preferred location. Average savings come in at around 34% when locating five or ten minutes from a hotspot.
Managing Director of property group Barrows and Forrester, commented on buying outside a hotspot, “There is often a considerable saving to be made that also allows you to easily access and enjoy the same areas as those paying a fair bit more…
“In many cases, this ripple effect often leads to greater demand and an uplift in property values in these surrounding areas… not only will it save you money climbing the ladder now, but you may well find your property has climbed in value by a greater margin when you come to sell.”
1Barrows and Forrester, 2022
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