Britons are leaving England for Wales as nation offers lower house prices

Richard Donnell predicts house prices will fall by 22%

During the pandemic, many homeowners decided to move away from cities and built-up towns to more rural, quieter areas where the pace of life was slower and the cost of living was lower.

One area of the UK that became particularly popular was Wales, and it seems the trend continued into last year.

In fact, data from Compare My Move has found that there has been an almost 30 percent increase in people moving from England to Wales from 2020 to 2022.

While England is home to great cities like London and Manchester, the pace of life can be fast, stressful and hectic.

Moving to Wales offers people a slower pace of life and – more importantly – a lower cost of living.

READ MORE: The charming UK commuter town that’s stuffed full of millionaires

With this in mind, Compare My Move has looked into why more people are moving from England to Wales and the benefits of moving from England to Wales.

Why people are moving to Wales?

The most common reason for people to move to Wales from England is a lifestyle choice, according to a survey from Compare My Move.

For those looking for a quieter life, Wales is the perfect place with a population of just 3.1 million compared to England’s 57 million.

The second most popular reason was family-related and the third was retirement.

In joint place, 15.8 percent of respondents said the lower cost of living and work were reasons why they decided to move.

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Where are people moving to in Wales?

The highest number of movers who left England for Wales decided to settle down in Cardiff (12.8 percent), the Welsh capital.

The city has fantastic transport links to the rest of Wales and the UK, a brilliant university and a bustling nightlife.

Swansea (6.7 percent) and Newport (5.8 percent) came ranked in second and third place while Wrexham (4.8 percent) and Bridgend (3.1 percent) completed the top five.

House prices

It’s hardly surprising that people are making the move to Wales when comparing house prices to England.

The average home in Wales costs £212,834 while in England, the average house price is £92,897 higher at £305,731, according to the UK House Price Index for Wales and England.

Competition for homes also tends to be lower than in popular areas of England.

Renting a property in Wales is also considerably cheaper than in England. The average rental cost in Wales is £828 per calendar month, according to HomeLet.

The average rent price in the UK for June 2023 was £1,229. For those in London, this increases to a whopping £2,077 per calendar month.

Cost of living

The average annual salary in Wales is lower compared to England at £23,996 and £26,192 respectively.

However, because the cost of living in Wales is 32 percent less expensive compared to England, it costs those living in Wales around £1,081 a month, while England’s is around £1,424.

It must be noted that the salary and cost of living in England are affected by the London living wage.

David Sayce, co-founder of Compare My Move said people are leaving England for Wales as the nation’s house prices are more affordable and the cost of living is lower.

He said: “People are feeling the squeeze with the cost of living, and the rising inflation rates over the past few years, so it makes sense that people are looking for places to move with money on the mind – and Wales fits the bill perfectly, lower property prices and lower cost of living are going to continue to drive English movers to Wales consistently as they have been since 2020.

“However, I also predict that the more English movers that do move to Wales for the cost of living purposes, the higher the cost of living will rise in Wales, levelling out with England sometime in the near future.”

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