There is absolutely no denying the fact that the economy of London is a veritable success story. Even between 2007 and 2011, when the rest of the world was in turmoil, London’s economy saw a growth of approximately 12%, which makes sense if you think of the fact that his urban paradise draws the brightest talent and best investments from all over the world.
In fact, some analysts go as far as to state that Britons in the UK live in two separate countries: London and the rest. This is great for those who manage to land a job in the capital city, but can turn into a burden once living costs begin to spike beyond belief.
Why People Move Out of London
There are thousands of talented young people currently working in London that face a difficult decision. They are compelled to continue to work in the capital city if they want to be successful in their careers, but even if they can afford the exorbitant living costs, they are discouraged by the fact that their chances to ever own property in London are extremely slim.
As such, their choice boils down to two equally dismaying options – to abandon their dreams and never achieve their full potential from a professional standpoint or to give away most of their earnings in rent. Unless they consider a third option.
The past few years alone have seen real estate prices in London going up by a staggering 50%. In other words, this is a terrible time to buy property in the capital city, but it doesn’t mean that people must give up the dream of owning a home altogether. Many have decided to relocate to nearby towns and cities such as Cheltenham, Oxford, Bristol, or Bath, where the price of property is even three times smaller in some cases.
Why You Should Consider Bath
Working in London and living in a different city does involve a tiring commute, but it’s currently the best option for young people to continue to pursue their dreams in the capital city and stand a chance to buy their own property. If this is something you are willing to consider, then Bath should be at the top of your list of options.
The distance between Bath and London can be covered in under an hour by train so you don’t actually have to spend a lot of time on the commute if you work only a few days a week. In addition, the authorities have promised on numerous occasions that a renovation of the tracks is underway so that the commute can become even shorter.
At the same time, there are many reasons why Bath is the perfect place to live and start a family. Aside from the fact that it allows you to trade the urban jungle for a peaceful and culturally rich environment, the city features extraordinary schools, museums, and pubs to cater for all tastes. Most importantly, as Pritchards estate agents will tell you, the prices here continue to be affordable in spite of the recent growth of the local real estate market. If there was ever a good time to buy property in Bath, it’s now.