Coversure Weymouth owner John Palmer asks: What Does 2021 Hold for Weymouth?
I’ve been a small business owner in Weymouth since 2018. During that time, I’ve seen this fine little town begin to find its feet and shake off its ‘forgotten’ reputation. Investments in the Peninsula Development, some excellent work by the Visit Dorset team in promoting its charms, and a surge in interest in local property has led to a resurgence in the town’s fortunes. But what does 2021 and a post-COVID world hold for Weymouth? Well, I believe this could be a great year for Weymouth and here’s why…
(Yet Another) Tourism Boom
2020 saw another surge in the number of tourists visiting Dorset. Despite the lockdown (which attracted some unwelcome visitors) when freedom of movement was restored business boomed. All manner of tourist businesses saw a surge in custom as good weather and a desire to be beside the seaside drove people to Weymouth’s shores.
2021 is already looking like it could be even better. The BBC recently reported that UK holiday bookings have surged thanks to concerns over self-isolation following foreign trips, visa hassles now we’ve left the EU and hopes that we’ll see (yet another) glorious summer.
In 2020 Weymouth was named the 8th most popular UK holiday destination. In 2022 I wouldn’t be at all surprised to read that Weymouth’s fortunes had risen further.
A (Continuing) Property Boom
Property prices in Weymouth have been on a rollercoaster over the past few years. 2019 saw prices fall by 11% (they were hit hard by a fall in second home sales) only for them to rise by 5.3% in 2020. I’m confident that 2021 will see further increases. Prices rose by ¼% in January despite lockdown blighted activity levels and once this has been lifted, we’ll see more people clambering to get on Weymouth’s property ladder.
The decision by businesses to move employees to remote working full-time allowed millions to seek homes in the country and by the coast. Weymouth, with its relatively good value properties – a detached home is around 15% cheaper than in Bournemouth – improving local amenities and charm is proving an attractive draw to many young people.
Weymouth Business Growth
Young people. Traditionally this isn’t a demographic that you associate with Weymouth. In 2011 the census revealed that the average age of the town’s residents to be 44 – 10% higher than the rest of the UK. The lure of the town as a second home destination has attracted an older generation while young people, faced with rising house prices and limited, seasonal working opportunities have moved away.
The rising tide of ex-city dwellers looking for ‘the lifestyle’ is likely to reverse this trend. For me, COVID is one of those crises that re-shapes society. As World War One ushered in the modern industrial age and the invention of the silicon chip in 1961 opened the door to the digital age, so the pandemic will usher in another huge societal development. For Weymouth this could be the best thing to happen to the town for decades. Given the relative affordability of the property and the glorious surroundings, we could find Weymouth becoming a new Brighton: a home to a new generation of tech savvy, creative sparks who could breathe new life into the town, bringing economic prosperity and lead us into a new age. This, and the continuing boom in tourism, bodes well for a reinvented, younger, cooler, and more prosperous Weymouth.
Weymouth: A Great Year In Store?
While I’m known for being an optimist (you have to be if you’re going to be a Bournemouth fan!) I can see an exciting year ahead for Weymouth. Our customers at Coversure Weymouth – who are mainly small businesspeople – tell me that things are getting busier, and as the vaccine roll out continues so confidence will return. Add to this the following winds I’ve outlined, and Weymouth could be in for another year in the sun.
John Palmer is the owner of Coversure Weymouth, Weymouth’s leading independent insurance brokers. You can contact him on (01305) 457 202 or visit www.coversure.co.uk/weymouth