Similarly, you often find artists and creatives are fantastic at seeking out value, because they’re less constrained about things like schools, and perhaps by commutes if they are freelance so can find pockets of opportunity.
It can be a matter of contention with locals, but homes in popular holiday spots are unlikely to ever lose their value. There is nearly always demand either from the tourism industry, with new holiday accommodation being built, locals or second home owners looking for an idyllic getaway.
But it’s not just these factors which have always existed, in one way or another. The last few years have changed people’s attitudes to places – whether it’s being by the sea or somewhere that has great green space, these have gone higher up people’s radar.
We have also seen buyers prepared to compromise on other things in order to get more space and working from home options. I would certainly prioritise the ability to convert a spare room into an office over a slightly shorter commute if I am only going into the office two days a week.
Which is how, I suspect, we have ended up with such significant house price increases in areas such as Hastings, where there has been a 641pc rise since 1995.
If you find the next Hackney or Margate you have undoubtedly hit the property jackpot, however, the truth is that property in the UK is still an incredible safe bet.
Our population is expected to grow to 73.7m by mid-2036, meaning we will hit 70m people a decade earlier than previously predicted.
And you don’t need me to tell you that we are not building houses fast enough to meet demand. Put that into a housing context and it isn’t hard to see why Britons are so keen on owning their own homes. But I would urge you not just to think of your house as an investment.
Of course, buying a home is likely one of the biggest decisions and purchases you make but the reality is that it is more than that. Watching the month-to-month fluctuations in house prices is meaningless unless you are buying or selling. The more important thing is to find a home that is right for you.
Earning an extra £20,000 on the sale won’t mean much if it wasn’t a house you loved.
