Bromley Housing Market Will Be Shaped By Remote Working

Published: 18/02/2021

Even with all the challenges in place right now, the property market in and around London is still active. At BR Estate Agent, we are here to assist you as best we can, and we know many people are looking towards areas like Bromley.

With remote working set to be a major issue in the workplace as we move forward, there is no denying that employees will have greater freedom in where they live. This will not be the case for every employee or industry, but in many businesses, remote working is set to become standard practice.

We believe Bromley is ideally placed for people. You are still close to the heart of London if you need to attend for work or social events, but there is a lot more freedom and open space in this part of the country.

Nicky Stevenson is a known name in the UK housing market, and she has spoken at length of how remote working has shaped the property market.

Stevenson says: “According to data provided by analysts Emsi, recruiters New Street Consulting Group has said that in November 2019 there were 26,600 jobs advertised that allowed remote working, last year November that number had increased to 80,700. After the pandemic, we could see people spend a few more days a week in an office or shared workspace, but I believe that a hybrid way of working is a lockdown legacy that will remain, and a home office will continue to be a must-have for many going forward. Many people have become accustomed to working from home and will want to continue to do so, even once the world has returned to a normal that possibly resembles a pre-Covid time.”

Reliable broadband is essential for home workers

If people are going to work from home more often, broadband must be dependable. This is an issue that buyers and vendors should consider before entering the market.

She comments: “As businesses and remote working has changed, so has people’s homebuying behaviour with a home office and broadband speed becoming far more important to buyers. In a recent Home Moving Trends survey conducted by the Property Academy, on a national level, 37% of participants sited broadband as being more important now than before the pandemic, while 35% said that space to work from home and a garden was now more important to them. Looking at the prime market and specifically, 46% said that broadband speed was more important, with 40% saying a space to work from home is more important.”

The freedom which comes from remote working has brought many benefits to people, and it is likely that this will be a considerable factor in the property market as we move forward.

Stevenson adds: “Of the those who were surveyed, 22% of people selling their property said that their primary reason for moving was a purely personal choice and wanting to relocate. Others said they were looking to upgrade to a larger property (14%), with around 12% saying they were looking for a change in scenery and lifestyle."
Stevenson concludes: “So Covid-19 has certainly impacted buyer behaviours and priorities in a future home. It has also impacted human behaviour, and priorities of those in the workplace, and therefore likely to impact our own sector and how estate agents operate. More flexible working will be desired by many, and therefore to recruit and retain the best people, estate agents will need to evolve. I think we will continue to see more and more agents wanting the freedom to be able to work with increased flexibility, especially with buyer behaviour showing that an office is less essential.”

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 for more information.