Properties outside covid hotspots/cities being snapped up

[justasking111]

It is unbelievable what is going on in my neck of the woods N Wales, rural, suburban properties being snapped up inside a week, full price, cash buyers, from 1.5m to 300k. My EA friend run off her feet. Now some may have decided to retire earlier taken redundancy of course. Is this a nationwide trend?

Not Wales, but some friends of mine have decided to move as their employer has been so happy with how working from home has gone, that they aren't pulling people back to the office. So they're moving more rurally to get more space and outdoor space and don't need to be near a train station anymore.

Yes, I read last week that lots of British people are snapping up rural French properties because they can now work from home anywhere with decent broadband. Not good for local people trying to buy their first properties.

I don't think it's got anything to do with COVID hotspots.
People have just re-assessed what they want in a house especially if they are likely to continue WFH.
I'm technically in a hotspot and our local housing market has gone crazy!

If they are buying them to be their primary home then I don't have a problem with it. It's second homes that need dealing with as a priority and harshly.

In the last year 40% of properties sold in Gwynedd were purchased as second homes, it is ridiculous that that has ever been allowed to happen.

Yes same in my area, selling within days, often from FB live viewings!!

I come from an area I can't now afford to live in, but also live in an area that local people struggle to find affordable homes.
Another factor is how poor interest rates are for savings. My DH will soon need to manage a large sum of money for his Mum, seems little point saving it, but property is probably a better investment. If he buys a holiday home at least there will be some use to it rather than just sitting in a bank. But I can see how aggravating it must be if that prices local people out of homes.

Property came on market last Monday sold by Saturday, in fact was sold before it went on market full price, a nice quiet part of Wales. Cash buyer, over priced but gone