Borough named UK's fifth best housing hotspot for 18-34 year olds
WEST Lancashire has been named the UK’s fifth best housing hotspot for 18-34 year olds.
The research, conducted by regulated property buyer Good Move, used data from the Office for National Statistics to reveal the locations which are experiencing the greatest influx of young adults.
West Lancashire came fifth, with 18-34 year olds representing 21.60% of the borough's population - a 2.04% increase from 2012. Good Move said its popularity can be attributed to its low average house, which are £184,005.05 and average monthly rental prices is £580. The borough also has good broadband speeds (29.6) and 4G coverage (93.51%), making it an attractive option for young professionals.
Coventry was top of the rankings followed by Bath and North East Somerset, and Exeter.
The low unemployment rate in the borough 4.7% adds to its appeal, although it is slightly higher than the national average (3.93%).
The findings have been visualised in Good Move’s online, interactive tool First Home Hot Spots, which helps young people and first time buyers see the locations which are growing in popularity with their generation. The tool shows where populations of 18-34 year olds are increasing, alongside other useful statistics, such as average house prices, the number of jobs available and average salary.
The research also gives an indication of where these 18-34 year olds are moving from, by identifying the locations which are seeing a decrease in their young population.
Surprisingly, it is London which is losing its young adults at the greatest rate. Out of the top ten local authorities which are seeing their percentage of 18-34 year olds decline the most, nine are boroughs from the capital and the other (Slough) is just 20 miles away.
Ross Counsell, director at Good Move, said: “Young people bring money, innovation and life to a city and our research has highlighted the places currently benefiting from their interest.
“Buying your first home is a huge deal, with so many factors to consider. This is why we created our new online tool, as it clearly shows how different regions compare in the areas most important to young people.”