NEW figures suggest there is a lack of housing in Warwickshire.
A recent study from Midlands solicitors Bird & Co revealed Warwickshire was among the UK’s most migrated-to counties in the UK – but a relatively low property transaction rate suggests a lack of housing in the county.
Warwickshire was the seventh most popular county to move to in the UK – one of only three in the top ten not from the far South of England – with Stratford, Rugby and Warwick the most sought-after destinations.
The study – based on June 2021 figures from the Office of National Statistics, HM Land Registry and Rightmove – found a net number of over 5,300 UK citizens moved to Warwickshire in 2020-21, beating the likes of Lancashire, Cornwall and West Sussex.
Stratford is the most popular region of Warwickshire, receiving a net migration rate of 2,455 in the past year. It is the most migrated-to local authority district of all the UK locations listed in the top ten.
Rugby was the second most popular of the county’s five regions with 1,349, and Warwick district was third with 687.
The figures also revealed Warwickshire had 35,770 home transactions in 2020 – the second lowest on the list.
Bird & Co said the county’s relatively low property transaction rate compared to high levels of migrations hinted towards a lack of housing.
Currently, the average house price in Warwickshire is £333,285 – far lower than the home counties of Kent and Essex, where house prices average at around £410,000, but higher than the average in Derbyshire and Lancashire.
Daniel Chard, at Bird & Co, said: “Our research has been based on several reputable data sources, but is just a micro-study into some of the UK’s most sought-after locations. The research demonstrates some clear trends as well as throwing up a few surprises.
“With the housing market continuing to flourish after an unstable 2020, homeowners could really benefit from doing their own research to figure out if they’re happy to continue living in their region, despite a potentially huge influx of people.
“Similarly, landlords and investors may want to consider targeting new regions of the UK to boost profitability.”
