Miller Homes reports rise in number of North East homebuyers from outside the region

Housebuilder Miller Homes has reported a 12 per cent rise in the number of buyers moving to the North East from outside of the region, compared to the past two years.

Figures from this year alone show that 15 per cent of Miller Homes’ North East buyers have moved from outside of the region for a number of different reasons.

40 per cent of this year’s home buyers have been over the age of 55 looking to settle in the North East benefiting from the “outstanding amenities” on offer including the “best of the country and seaside” the North East has to offer.

A further fifth of buyers have upsized from their current home and Miller Homes claims to be seeing a larger number of First Time Buyers moving to the region as they are able to secure “more home for their money”.

A notable trend amongst buyers was that many were “looking for a bigger and better property for their money”, distinguishing the North East as somewhere that potential buyers can “invest in a quality home” at a lower price than other areas of the UK. Several buyers also purchased for an investment as well as a second property for themselves.

Aisling Ramshaw, sales director at Miller Homes, commented: “It’s refreshing to see the North East recognised as a great place to invest in a new home. The region is constantly evolving, and we’re so pleased that an increasing amount of people from outside of the area are considering it a potential location for their first, next or forever home.

“The North East has so much to offer outside of fantastic houses too, with plenty of career opportunities at leading national and international businesses, and an array of hospitality venues to enjoy along the way.

“In 2021, we saw an 11 per cent increase in the number of new leads compared to 2020, with a 44 per cent increase on 2019. We predict that the rising demand will continue as the North East is amongst the most cost effective regions to buy a new home.”