Go West Young Man

15th December 2006

T. Wyn Jones

If I were to be asked what I thought was this years most significant feature of the regional property market I would have to say it was the ever increasing migration westwards of prospective purchasers which in turn has lead to significant increases in property prices.

For many years now North Herefordshire and South Shropshire have seen an influx of house buyers from outside of the area due in part to the perceived lifestyle the area has to offer. However, what we are seeing now is a significant increase in population traffic moving further west - into Wales.

Whilst some 10 years ago west of the Shrewsbury - Hereford A49 trunk road was considered to be really “out in the sticks” with Mid Wales being “Indian territory” in which you would enter at your own peril this is no longer the case. Perhaps it is because the area has become more accessible transport wise or it is a case of “needs must”. Whatever it is Mid Wales is seeing more and more people from other areas pouring into the region.

We of course live on an island and Mid Wales isn’t far from the west coast so unless incoming prospective purchasers wish to hop over the Irish sea and settle in the Emerald Isle we will, in my view, see a continued and perhaps increased migration into Mid Wales which will result in a hike in property prices.

Another feature of 2006 for me was the laudable attempt by South Shropshire District Council to address the ever-increasing problem of affordable homes for the local population. Whilst I have not always agreed with their policy I take my hat off to them in meeting this crisis head-on as opposed to some other authorities that appear to have adopted the ostrich stance.

Of course the previous points are inextricably linked. If there had been no westward population migration property prices would not have increased so dramatically and thus the first step of the property ladder would not be out of reach of the local younger element. However, the current fact is that the first rung is well out of their reach, the westward migration will continue which in turn will mean added pressure on property prices.

Somebody told me a number of years back that there is no better investment than property investment if considered over a medium to long term. Looking through the McCartneys database of property prices spanning over the last 20 years I have to agree. So I would suggest that those of you out there still to get on the property ladder you use your best endeavours (local needs or otherwise) as in my view property prices in our area are only going one way, and that’s up.

Finally, may I on behalf of the partners and staff of McCartneys wish you all a Merry Christmas and Happy New Year.