People want to live in areas that are on up and where there is a sense of positivity in the air. We all like different things, and there is no place that is perfect for everyone. However, when it comes to creating ideal living conditions, there are certain factors which are more important than others. Employment opportunities, high incomes, a low recorded level of deprivation and rising property prices are indicators of a thriving town and city. By these elements, it is fair to say Bournemouth is booming.
The fact that a study undertaken by Savills, using figures obtained from the Office for National Statistics (ONS) says Bournemouth is booming is positive news for the town. People want to live in Bournemouth, which is also great news for property investors who are keen to buy-to-let in thriving areas.
Bournemouth has a lot to offer people of all ages
The study considered more than 400 areas in England and Wales, with a minimum population of 20,000 people. A total of 22 towns were named as thriving, and all of these areas witnessed an increase of more than 10% in population and employment growth. All the regions also have a job density higher than 0.75%.
Bournemouth was ranked higher than places such as Exeter, Didcot, Bracknell, Guildford and Watford.
The population growth in the period between 2009 and 2017 was 11.5% in Bournemouth while in the same period, employment growth was at 14.9% There are many reasons why Bournemouth is on the rise, and in demand. The micro-climate is more welcoming than many parts of the country, offering more hours of sunshine than the majority of the country. When you consider Bournemouth also has miles of glorious beaches, this is a local setting that makes people instantly feel at home.
University towns attract landlords and property investors
The emergence of the University has also played a vital role in the development of the town. Anyone experienced in property investments knows the influence a University has on the local property market. The student population provides an audience for landlords, but many of these students graduate and decide to stay in the local area.
Therefore, there is also an audience of young professionals in the town, and the local job market is aware of the potential of the local population. In turn, this ensures there are jobs on offer, which drives demand to live in the local area. When you have these factors working together, it is no surprise Bournemouth is recognised as a thriving town.
The traditional view of Bournemouth may be of a place where people go to retire and enjoy a pleasant life after they have worked hard. For many people, this is still true. However, people are living for longer. They are in better health. Significant improvements in healthcare and fitness is helping people to make more out of their golden years, and Bournemouth is benefitting from this added vitality and vigour.
If you would like to learn more about the Bournemouth property market, Foxes Sales & Lettings is here to help you. We can provide you with assistance in selling your home, including arranging a valuation. We are also able to offer an extensive array of services for landlords, so whatever you need help with, contact us today.