In light of the Stamp Duty holiday extension and deposits of 5% that were announced in the 2021 Budget Many buyers are searching for an opportunity to buy a residence. This day in the Budget was the busiest day on Rightmove’s calendar ever, with more than 9 million visitors to the site in only 24 hours. Which regions of the UK are the best areas to relocate to?
The research conducted by mortgage advisors has identified the top places to reside within the UK.
The prospects for job opportunities, affordability and quality of life were the three major aspects used in the study which included eight measures used, which included the proportion of income that is used to pay rent.
Our team of RM Mortgage Solutions has ranked 181 of the most populous cities and towns across the UK in terms of how appealing they are for those seeking to relocate.
All in all, Warrington in Cheshire was named the top location to relocate to in the UK and has a thriving population, a good job market and low rent costs which have helped this town climb to the the top position.
In the top ten, two of the spots were held by Warwickshire and Rugby, and Warwick and Rugby each appealing to people seeking to move to a new location.
Every one of them was each assessed individually using an array of eight indicators:
- Job Opportunities – numbers of jobs available, against the number of residents. A score of one means there’s one job available for every person who is working.
- Affordability is the monthly average income in the area against the average monthly rent for the area. The summation is based on rent costs in percent of the income.
- Quality of Life is an assessment from self-assessments of the way residents of each region are feeling based on four aspects such as happiness as well as anxiety, worthwhileness and happiness. They are ranked and averaged to calculate the score of quality of life from 403.
- All data comes taken from ONS, Nomis, StatsWales and gov.scot.
The five top regions to relocate to in the UK are:
1 – Warrington
2 (tied) – Warwick
2 (tied) – Derby
4 – Crawley
5 – Tewkesbury
and the five most savage:
1 – Eastbourne
2 – Harrow
3 – Tamworth
4 – Gosport
5 – Braintree
What is the difference between HTML0 and London and London compare?
If you average the quality of life jobs, affordability and job density throughout every one of the London Boroughs London is ranked 48th having more than one position for every worker, with a salary of PS3,162 a month, but rental costs of PS1,435 per month . 45.4 percent of the median salary, which is the highest percentage in the entire UK city.
If you’re looking for low rental costs, RM Mortgages compiled the most affordable towns and cities to rent taking into consideration the average wage in the respective areas.
The areas that have the lowest rents:
1 Derby PS590 (17.4 percent in income)
2 2 Hull PS412 (18 percent of earnings)
3 3 Barrow-in-Furness – PS500 (18.1 percent in income)
4. Hartlepool PS450 (18.6 percent in income)
5 5 Stoke-on-Trent PS450 (19.3 percent in income)
UK Average PS854 (33.3 percent of the average income)
Residents of Derby are the ones who spend the least of their income on rent
In the end, residents of Derby are spending on average 17.4 percent of their income on rent. This is nearly half of the UK average for cities and towns of 33.3 percent. The city is one of the very few regions in the UK which strike a middle ground between high salaries and lower rent costs, which results in an affordable lifestyle.
Hull is the city with the lowest rent average of any UK city or town in the UK.
In the average, rent is only PS412 each month for Hull. It’s less than half of that of the UK average of £854 and is 18 percent of the median salary in the region. Hull was named a City of Culture in 2017, Hull has seen plenty of investments over the past decade, and has a thriving old town, museums , and bars/clubs in a bid to encourage those who move here to remain.
The top and the worst of every class:
Quality of Life:
Poulton-le-Fylde – 403/403
Kensington and Chelsea 11/403
Westminster – 4.28
Bolsover – 0.14
Tower Hamlets – PS4,155
Hastings – PS1,930
Hull – PS412
Westminster – PS2,395
Rent as a Percentage of Income:
Derby – 17.4%
Kensington and Chelsea – 82.8%
Richard Moring, Director at RM Mortgage Solutions Ltd, has the following to declare:“It’s really interesting to observe how results differ throughout the UK. Certain areas score extremely well in terms of quality of life, however costs of living there is more expensive. In the end, day, deciding where to live is a delicate process and one location may not provide everything you’re searching for. It is important to prioritize certain elements. making a list of things you like and dislikes you could add up are ideal ways to decide whether you’d prefer to live in one place over another.
The top five cities – Warrington, Warwick, Derby, Crawley, and Tewkesbury are all close to major motorways. It is possible to change the appearance of a house, but not the location or the ease of commute.