Western Daily Press (Saturday)
SUBURBIA NOW THE PLACE TO BE
SUBURBIA often has a reputation as a slightly dull, curtain-twitching type of place, lacking the glamour and bustle of city centres and the tranquil beauty of the countryside.
But there is growing evidence that in 2020 suburbs just might be the place to be.
Research released this week by estate agent Hamptons International suggests there is something of a rush to the suburbs.
Its report into the lettings market between May-August 2020 shows 28 per cent of people in the
West who have moved in that period have added at least one bedroom in their latest move.
It suggests that a desire for a roomier home - either to accommodate a home office or to provide more space for children – is driving people to bigger homes on the edge of towns and cities.
Everyone from rock or punk lyricists to sit-com writers have historically railed against the comforts of suburbia.
But during a pandemic, that comfort comes at a premium - with the average cost for renters in the region who upsize being an additional £153 per month.
Aneisha Beveridge, head of research at Hamptons International, said: “Renters have joined homeowners in the race for space by rushing to the suburbs where the number of tenants looking to rent is up on last year.
“With tenants’ priorities changing, upsizers have swapped smaller city centre flats for three-bed semis on the fringes of town.
“While the premium placed on green space is growing each month, upsizing tenants have typically stuck to the outskirts of cities they know rather than leaving altogether.
“While the race to suburbia has mostly been dominated by tenants in their mid-30s onwards, younger tenants too have an increased appetite for additional space.
“For these groups, this typically means moving from a room in a shared house into a studio apartment, or from a studio into a onebed home with its own separate living and sleeping space.”
It is a trend being noticed in other sectors of the economy.
Earlier this week West-founded cafe bar chain Loungers gave one of the most positive updates to the City of any business since the start of the pandemic.
While it credited Chancellor Rishi Sunak’s Eat Out to Help Out scheme for encouraging customers back, it also said its locations in suburbia were a huge asset as people increasingly spend money nearer where they live.
The company runs 137 individually titled Lounge sites and 30 Cosy Club venues.
It saw shares jump after it said like-for-like sales soared by 29.9 per cent in the 10 weeks from July 4.
It reported that sales growth was “significantly” ahead of its expectations for the period as it revealed a positive outlook for the rest of the year.
Nick Collins, chief executive officer of Loungers, said: “Clearly we don’t know what is around the corner.
“We anticipate further interruption to trade on either a local or regional basis in the short term.
“Covid has, however, strengthened our belief in the potential scale of both brands in the longerterm and the behavioural shifts being witnessed further underline this.”
Loungers was founded on North Street in the Southville area of
Bristol in 2002 and it is through venues on what it terms ‘secondary high streets’ in suburban locations that have fuelled its growth, rather than having many city centre sites.
In his remarks in the trading update, chairman and co-founder Alex Reilley said: “With the undeniable change under way in the way people live, and more specifically work, we believe we are extremely well-placed to benefit.
“The suburban and small-town locations of the vast majority of our Lounge estate have remained strong and our large, airy Cosy Club venues - coupled with an offer that is sufficiently differentiated from our competitors - mean that both brands are in a strong position to prosper.
“Our lack of exposure to central London and travel hubs has meant that the strength of performance across the business is both sustainable and consistent.”
Maybe suburbia really is where to head for the good life.