GRIMSBY agent Pygott & Crone has announced that it has doubled its sales and workforce at the branch in 2015 as more investors from the south, priced out of the region, snap up property in North East Lincolnshire.
Pygott & Crone, who recently won The Times Best Midlands Agent, and has had a branch in the town since 2004, is seeing an increasing demand from people upping sticks from the south who want to live in North East Lincolnshire and also investors, who are tempted by the excellent yields to be had in the area.
David Gardner, manager of the Grimsby branch, said:
Last year we doubled our sales and our staff – taking on an additional 10 experts to meet the demand for our services. This is testament to how buyout the economy is in Grimsby and the surrounding area.
It has recently been reported that house prices in North East Lincolnshire are on average 55% cheaper than other areas of the country which is attracting a serious amount on interest from buyers.
The percentage is even bigger in London with the average house price reaching an eye-watering £514,000. People seeking property are being drawn to Grimsby and Cleethorpes and the surrounding area where the average cost of a home is £394,000 cheaper than in London. For just £120,000 buyers can expect a two-bed semi with a garage and a good-sized garden here.
Over the last 12 months we have seen rental and sales demand surge from engineers coming into the area to work within the renewables sector and this has had a knock-on effect on property prices across the area. In particular in Cleethorpes, where prices have increased by nearly 10% in 2015 which is why we have made the decision to open up a second branch locally in Cleethorpes.
David is working with many delighted customers from London who are blown away by what their money can buy in North East Lincolnshire.
We recently had a customer who sold his two-bed apartment in London for £650,000 and then bought a five-bed detached house with half an acre plot for £400,000 – it’s incredible value for money and as you can imagine he was thrilled!
With figures like these, buyers are being tempted away from the capital and the southern region to counties like Lincolnshire as they are able to get much more square footage for their money. And it’s not just the property market that is driving buyers north, the job market in North East Lincolnshire is flourishing too.
We are experiencing an exciting time in Grimsby and Cleethorpes with so much development on the south and north bank of the river Humber and this will bring a substantial amount of new jobs, both skilled and unskilled, which will have a big impact on our already strong economy.
Aside from the financial benefits of buying or renting property in the area, North East Lincolnshire is a great place to settle down.
Grimsby, the UK’s busiest port, has benefited from significant investment within the renewable energy sector and the town is set to become a leading centre for off-shore wind farms in the UK. Already welcoming a new wave of renewable experts moving into the town to work in the sector; Grimsby is also proving popular because of its links to Europe from the nearby Humberside airport just 15 miles away.
It’s a really exciting time to be working in property in North East Lincolnshire. I’ve seen the market change dramatically over the last 10 years and I look forward to helping more buyers and investors from the south find their ideal property in our fantastic area.