Research by property experts Good Move has revealed that Blackpool is the best town for downsizing, offering homebuyers the most value when moving to a smaller home.
Good Move analysed data on house prices and property sizes across major UK towns and cities to identify locations that offer the best deals for buyers looking to downsize. The study found that houses in northern locations generally offer significantly better value per square metre than those in the south.
Alongside Blackpool, Bradford, Preston, Sunderland and Stoke-on-Trent rank among the top five places where smaller properties provide the best value, allowing homeowners to release equity from spacious homes when they downsize.
The research also identified the worst-value towns for downsizing, including Bristol, Southend-on-Sea, Manchester, Reading and London. Small homes in these areas remain expensive, meaning downsizers moving there are likely to release considerably less equity.
London remains the most expensive housing market in the UK, where even modestly sized homes can cost £1 million or more.
There are several reasons to downsize and release equity: to pay debts, when less space is needed after children leave home, or to move to a property with lower running and maintenance costs.
Downsizing is common among the over-55s, but as the research shows, some locations offer much better housing deals than others.
If you are downsizing, we at Merseyside Movers & Storers can help. We are a Liverpool removal company that will take care of transporting all your belongings to your new home.
