Buyers looking for a lifestyle change – a slower pace of life, old fashioned community spirit and a healthier way of life – are packing their bags and flocking to West Wales, according to buyers’ agents, West Wales Property Finders.
Over the last five years West Wales Property Finders has seen a huge migration to West Wales, with areas such as St. Davids and Saundersfoot in Pembrokeshire, Cardigan and Aberaeron in Ceredigion and Laugharne and Llandeilo in Carmarthenshire proving hotspots, as an increasing number of buyers opt for a community-based, more traditional lifestyle.
Carol Peett, Managing Director of West Wales Property Finders said: “West Wales is proving increasingly popular; particularly with those buyers looking to move away from a big city in search of the idyllic village life and an improved work life balance”.
Three distinct buying groups have emerged. The Business Owners – successful business people who move themselves and their businesses to Wales in search of a better quality of life. The Retirees – those looking to purchase a property close to the sea to either retire to straight away, or use as a holiday home and holiday let, with plans to retire there permanently after a few years. The Greenshifters; those who have sold their properties in London or other large cities and are looking to “get back to nature” and let their children experience a good old-fashioned childhood.
Peett adds, “The three man buying groups that have emerged vary considerably in the properties they are looking for and the area to which they are looking to move within West Wales. However, the area has no problems in accommodating the new range of buyer’s demands and aspirations”.
“Business Owners tend to have the largest budgets and are typically looking for larger, older, character properties with big gardens and some land, situated in the country but with easy access to towns; with areas such as Narberth, Tenby, Cardigan, Aberaeron and Llandeilo proving top of their list”.
“In contrast, Retirees tend to be looking for properties with small gardens and no land so that they are easy to maintain, both as holiday homes and once they live there full time when they are older. They tend to favour character cottages that are situated in or near a village or small town which offer either sea or rural views. As a result locations such as Saundersfoot, Manorbier, Tenby, Llangwm and St Davids in Pembrokeshire; Tresaith and St Dogmaels in Ceredigion and Laugharne in Carmarthensire have emerged as real retiree hotspots; offering the sense of a well connected local community combined with excellent local amenities and some fantastic views across some of the best Welsh countryside, beaches and estuaries”.
“Greenshifters tend to be those with young families who, after selling their large city family homes generally have considerable sums of money to play with and are very much after a new challenge or project. As a result this group are typically looking for relatively run down properties which they can spend time and money renovating and making eco friendly. Areas such as around Crymych and the Gwuan Valley in North Pembrokeshire, Lampeter and Tregaron in Ceredigion and Llanybydder, Carmarthenshire, where property prices are lower, have proved particularly popular. Here buyers can get more land for their money, enabling them to find properties with plenty of room for rearing chickens, pigs and sheep and having hives for honey, plus some polytunnels for growing fruit and vegetables, enabling them to really feel they are getting back to nature.
A fourth distinctive group have also emerged since the Referendum and this is ex-pats returning to the UK from France, Italy and Spain due to Brexit. Many sold up in the South East and South West England to go and live overseas but now, due to perceived difficulties in living there after 2019, are selling up and returning to the UK. They find themselves priced out of the areas in the UK they came from and are buying in West Wales due to affordability coupled with the rural lifestyle, community spirit, countryside and mild climate resembling that which they are leaving.
Whilst Welsh house prices as a whole grew by just 3.3% in 2017 – a slightly faster rate than the UK as a whole, Pembrokeshire saw the highest rise at 8.1%; Ceredigion prices grew by 4.9% and Carmarthenshire by 2.7%. Despite this, prices are still highly competitive compared with similar areas such as Devon, Cornwall and Dorset and therefore West Wales is likely to remain a property hotspot for some time to come.
If you are thinking of moving to West Wales, do give West Wales Property Finders a call on 01834 862816. Not only can we find you your perfect property, we can save you time, money and stress by carrying out all the negotiations and micro-managing your purchase for you right through to exchange. Did you know that, in general, over 30% of property purchases fall through between an offer being accepted and exchange? Through managing the purchase for our clients we have this down to less than 1%. You also gain access to our “little black book” of recommended surveyors, solicitors, tradesmen, etc. to make your move as simple as possible.