Was Bruton a media hype?
A review of my 2015 article
POST 1 : THE LOCALS
A couple of years ago I reviewed Bruton. At that time, various news outlets were talking about the rise of this picturesque town. The purpose of the post Bruton. Media hype? Or the real deal? was to review the reviewers. I was interested at that time to gauge the locals attitude to change.
Was it hype? Or were they correct?
It was only yesterday I was browsing the Bruton Facebook pages, trying to determine how the local's view of Bruton, two years on, had changed - if at all.
I found their response varied. Opinon on a wide range of topics was split down the middle.
For example, one gentleman was concerned about traffic for a new business, another thought the addition would add to Bruton's charm.
No doubt these responses are all part and parcel of a towns rise, but why the split?
Possibly from local house prices rising and being pushed out?
Are buyers from outside Bruton causing property prices to rise?
With the amount of new investment in the town there were concerns about property price. Whilst Bruton house prices have indeed peaked they have also had some troughs.
However there were huge peaks even before Hauser & Wirth arrived.
Not surprisingly the average price gets higher when more people sell. So could it be that the people who are selling their houses are causing the rise?
Some may argue that since Jan of this year (and Jan '14) that average price isn't in line with properties sold. Was this a flash in the pan?
Or is it another signal that house prices are simply rising because of growth in the area?
An interesting statistic would be how much migration from other places in the UK has occurred. Also how this compares with the average house value.
A lot of these concerns come from panic on social media. The impact these channels have on the local community can be positive and negative.
Are the worries of house prices rising valid? I don't think it is yet. But the jury is out here.