Strong buyer demand for homes in the north.

Scotland, the south-west of England and the northern regions of England have become the most sought-after destinations for new homebuyers, as people move out of urban areas, a new report claims.

New-build property website SmartNewHomes.com said that new home buyers were looking to move away from London, the south-east and the Midlands in favour of the cheaper homes and more green spaces to be found in Scotland, the north and north-west of England and the south-west.

Managing director at the firm David Bexon commented: "With steep prices in the Midlands and the south-east increasingly pushing property out of the reach of many home buyers, we have seen a huge exodus of buyers from major cities such as London, with many opting for the more affordable north, where prices are typically £40,000 less than the UK average."

He added that prices have remained strong in individual regions and the price that buyers are saying that they are willing to pay for a new home has risen steadily in the last two months.

It was recently claimed by an expert from BuyAssociation that some southern first-time buyers were buying property to let out in the north as a way of getting onto the property ladder.

Landlord Mortgages “A property price revival in London and the South East has pushed prices above the national average (year to date) but we are not expecting another boom. With Interest Rates set to move upwards we have no doubt that the House Price Index by Land Registry, Nationwide and Halifax will reflect a more conservative House Price Inflation Report in the coming months”

Lettingagent.com “A Southern First Time Buyer buying in the North works a bit like a Share Ownership Scheme, you are buying a proportion of what you really desire a whole of.”

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