Helping You Make Big Property Decisions

28th February 2024
Home > News > Helping You Make Big Property Decisions

Get assistance from local experts

We appreciate these are challenging times, and you wouldn’t be doing what’s best for you and your loved ones if you didn’t re-evaluate your property options.

A recent study by Pepper Money reveals that 28% of individuals have contemplated relocating to a new area as a strategic move to alleviate housing costs amid the cost-of-living crisis. This indicates a growing awareness among homeowners that a change in location could be a viable solution to financial pressures.

The ongoing financial squeeze has led to 19% of respondents considering downsizing. This practical response to economic challenges reflects a desire to streamline living expenses and adapt to the changing economic landscape.

Cost-of-living crisis impacting property decisions

The study underscores the widespread financial impact, with 68% of participants reporting a decrease in disposable income over the last year due to the cost-of-living crisis. Notably, 31% of respondents highlight a significant decrease in their disposable income, highlighting the severity of the economic challenges faced by many in Wynyard.

Breaking down the specific factors affecting household finances, the study identifies key contributors. A significant 92% of participants point to rising food bills as the primary factor impacting their financial well-being. Energy bills closely follow, affecting 86% of respondents, while 38% cite the escalating costs of travel as a significant factor.

In an ideal world, you wouldn’t move from a dream home, or one you feel perfectly settled. However, we appreciate there are many reasons to move home, including placing yourself on a sounder financial footing.

We’ll help you find your ideal home

If you are contemplating moving home, for whatever reason, we help you connect with buyers, and we take you from start to end. There is considerable demand for property in Wynyard, and we also operate in areas like Darlington. We cover the wider area in great detail, so if you want assistance from a genuine property expert who can help you find the place that’s right for you, we are the estate agent to trust.

Paul Adams, Sales Director at Pepper Money, said: “Faced with such a significant ongoing squeeze on their finances, millions of households are looking for ways they can cut their costs. Our study found the desire to do this is so significant for such a large proportion of people that 28% of all respondents say they have considered moving out of their area to somewhere cheaper, whilst 19% have thought about downsizing to reduce their housing costs. Whether customers are looking to move, downsize, or reduce their borrowing costs, brokers have a huge opportunity to help their customers to best manage the current economic environment and continue working towards the goals they want to achieve in their lives.”

We are here to help you move in and around Wynyard

If you are looking for help with any matter of the Wynyard property market, it is best to speak to property professionals. No one knows for sure what is going to happen next, so we won’t claim to have all the answers, but the Anthony Jones team is keen to help you as best we can. If you would like to contact us over housing matters, please call us today on 01740 807107.


Share this article

Related News Articles

arrow
arrow

28th July 2022

Wynyard Sold Prices Up Sharply On Last Year – How...

13th December 2023

Interesting Findings In Wynard Property Sales In 2...

16th November 2022

Objections To Darlington Property Development

10th August 2022

Bank of England Scraps Affordability Test