2021 Property Market – Green Space Is Vital

Published: 07/01/2021

There are many reasons to enjoy local life in Bromley, but the amount of green space is a critical factor. This part of South East London has many places where you can relax, exercise and socialise in the open air.

Therefore, it is great news for the local housing market that a range of property market observers believe green space is vital for the 2021 property market. If you are looking to make a move in or around Bromley in 2021, we are here to assist you.

The lockdown has changed property buyer expectations

Michael El-Kassir is the managing director of GRE Assets, and he said; “With the imposed lockdown restrictions meaning people have spent much more time at home this year, we believe this has led to a distinct rise in the number of people seriously considering their next property move. Low interest rates, the existing Help to Buy scheme and stamp duty incentives, have also created a sense of urgency.”

Michael continued by saying; “The pandemic has been a wakeup call for prospective buyers and renters, who have reassessed their priorities when looking for their next home. Not only are they spurred on to make the leap from London, they also recognise the importance of having access to green space, whether that is nearby parks, balconies, terraces, and gardens.”

This is an aspect where Bromley holds an advantage over many parts of London. In some parts of the capital, green space is at a premium, and with garden space even more limited, some households feel little connection with the natural world in London.

You can enjoy the best of both worlds in Bromley

In Bromley, it is possible to enjoy the best of both worlds. The journey time from Bromley South Station to Victoria Station is less than 20 minutes. If you need to make your way to the heart of the capital, you can do so with minimal fuss and effort from the capital.

However, if you also want to create some space between yourself and the heightened level of activity in London, you can do so.

Let’s not forget that remote working is likely to become more common for many professionals. It might be that you no longer have to work in the office, or you could be required to attend on fewer days.

Setting up your home in an area where you feel comfortable, but still feel connected to your workplace, will ensure you are ready for anything.

Michael El-Kassir from GRE Assets also said; “The working world has also seen a vast shift, as employees and companies have adapted to working from home. While people will return to the office as the latest restrictions ease, we strongly believe businesses will continue to work flexibly moving forward, meaning adaptable space and connectivity at home is of high importance for new homeowners.”

Simon Rubinsohn, RICS Chief Economist commented: “The latest RICS survey provides firm evidence of a strong uplift in activity in the housing market which should help support the wider economy gain traction over the coming months. More of a concern is the pick-up in prices which could intensify issues around affordability in some parts of the country. Disaggregated data shows demand generally to run ahead of supply.”

Simon also said; “Meanwhile the results provide a further pointer to more substantive changes taking place in household behaviour in the wake of the pandemic. Increased demand for properties with garden and near green spaces has if anything increased since we tested the water in May.”

If you are looking to make a move in the Bromley property market, and you would like to speak with local experts, please get in touch. If you would like to arrange a property valuation, contact us and we will set this up for you. You can phone your BR Estate Agent on 020 3633 8620 from 9am till 9pm seven days a week or visit our website www.br-estateagent.co.uk for more information.