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Karl Hick, managing director of Lincolnshire-based Larkfleet Homes (www.larkfleethomes.co.uk), says home owners in some parts of the country could move to a larger property, enjoy a better lifestyle and put money in the bank if they move home.
Writing on the EasternNewHomeBuyer blog (www.easternnewhomebuyer.wordpress.com) he says:
“You may fancy moving to an eight-bedroom mansion in some rural idyll. Unless you are a lottery winner, though, it is not actually feasible to make this your next step up the property ladder from a one-bedroom flat in a London suburb.
“However, the increasing disparity in house prices between various parts of the country opens up new opportunities for buyers who are prepared to think creatively about their needs and possible solutions. You could move from an average detached house in Hertfordshire to a similar property in Peterborough, for example, and pocket a price difference of around £300,000.
“With that sort of money in the bank, you could more than afford a new car and the fuel to run it for frequent visits to friends and family back in Hertfordshire if you wish.
“Alternatively, you could use the north-south price differential to improve your quality of housing if you are moving north. An average semi in Hertfordshire would sell for about £280,000 according to the Land Registry – enough to buy an average fully detached home in Rutland, Cambridgeshire, Lincolnshire or Peterborough and still put money in the bank.
“You wouldn’t be losing out on life’s other benefits, either. The Sunday Times recently named Stamford in Lincolnshire as the best place to live in the UK and, more generally, the counties of middle and eastern England offer low crime rates, low Council Tax rates, good schools, strong communities and a healthy environment.”