There are a lot of good reasons to buy property this year. But, where should you invest? We will review a few valid reasons for people to look to Stevenage for investment opportunities. We must point out that there is at least one unique reason to believe in the town that is quite surprising!
While researching this article, information about property owners who got very rich with lucky lottery wins continued to surface. It happened enough to give us pause. We decided to compare the world’s best lottery jackpots in the area, and we were pretty surprised. Along with the apparent traits of Stevenage, it seems the residents there carry a bit of lottery notoriety. There have been 29 huge lottery winners in the past 25 years! That is enough to make a new millionaire every year for a quarter-century! Further, more than 200 winners landed in the top tier levels, winning at least £50,000. The merits of living in the area are many. With this bit of trivia, we note that there may be more than one path to a rich life in this beautiful part of the country.
Stevenage’s rich history
Stevenage is a historical treasure. It began as a small Saxon village dating back to the 7th century. The village was called Stith, ac, which means strong oak. Stevenage gradually situated near the main trade road.
In 1946, the government passed the New Town Act. The plan was to move people from the inner London areas to market towns further away from the capital. Stevenage was the first community chosen to be a “new town.” By the 1960s, six new neighborhoods were developed. The Queen opened the town center in 1959, and a railway station was built in 1973. With an impressive population of 1,000 people in the 14th century, the village now has more than 87,000 residents. The town’s location, the natural beauty of the area, and its relationship with the residents of nearby London make Stevenage a prime location to invest in, even today.
The new town program was created during post-war times when building materials were difficult to come by. In the past few years, the town has undergone several upgrades to improve the look and preserve the area’s history. Stevenage is a combination of ancient ruins, buildings of past eras, and modern society. It is 29 miles (47 km) from London, with easy transportation availability. During the implementation of the new town program, visitors were less than impressed with the town’s look. Today it is a lively, fun, and friendly place to live or visit.
Profit in Business
Starting a business in Stevenage is a good move. In 2019, start-up companies showed a survival rate of nearly 46%. During the same time frame, new companies opened in the area increased by over 26%. According to Statista.com, the average survival rate for new business for one year in the United Kingdom is around 89%. This puts the UK among the top countries globally for business growth. Relaxed employment laws and government initiatives make Stevenage an inviting area for young people to become established in the global economy.
Property values continual growth
In the past 12 months, property values in Stevenage have grown by 3.3%. This is the most significant increase of any other local authority in the area. The average price of properties is between £300k-£400k, with more than 1500 sales. There are homes to buy at prices below this average. If a buyer is willing to invest in their purchase, some extraordinary deals are to be found. The above average for the economy is a promising sign. Experts agree that property is one of the safest investments in challenging economies. The likelihood of making a profit on your investment outweighs most other options, including saving your money in an interest-bearing account. In the next two years, the national growth of property values is a modest 3% – 5.5%. However, Stevenage is already in the lead for development, and there is no reason to expect that to change.
Conclusion
Throughout history, Stevenage has shown itself to be resilient and strong. Even in challenging economic times, Stevenage manages to hold its own and then some. The people who live here are hardworking and intelligent and maybe more than just a bit lucky. A wise person will invest in modestly increased property values with the expectation of continued growth. Others may hit the lottery and invest more heavily. It is safe to assume that rich lives are expected in Stevenage. Regardless of how it is an acceptable risk to take, investing in the town, growth, and region’s people. Investors keep a close eye on the market, as are others looking for the next grand plan. England saw its potential in the 1950s, and that promise remains firm in 2022.
