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Post Lockdown Property Moves

Published: 20/05/2021

Now that we are moving forward out of lockdown, it is inevitable that people are keen to return to some form of normality. People have embraced pubs, hairdressers and many of the other venues they have been denied in the past year.

It is also fair to say that many people are looking at the housing market with greater intent right now. At BR Estate Agent, we have spoken with many would-be buyers and vendors. If you are looking to make a move, get in touch, and we will be more than happy to assist you.
Not only do we speak with local people, we stay in touch with the latest studies across the country.

A survey of 2,000 households, conducted by a property developer called Romal Capital found some interesting responses that suggest many people will look to move home:

  1. 31% of respondents say they expect to change their living arrangements after living through lockdowns and working remotely.
  2. Normally, between 4% and 5% of households move home in any year.
  3. For the age group between 25 and 34, 32% said they expect to move.
  4. For people aged 60 or over, 28% said they intend to move.
  5. 20% of respondents say they plan on moving within the next three months.
Remote working remains a factor

With remote working likely to remain a critical factor in everyday life, it is natural that people make significant decisions around remote working.

The study provided the following responses:

  1. 26% of respondents say they plan to relocate due to being able to work from home, or at least be able to combine remote working with occasional office work.
  2. 26% of respondents said that even with remote working possibilities, there is a need for suitable jobs to be available in the local area.
What matters to movers?

It is always helpful to know what people are looking for when they move home. The study found:

  1. 29% of respondents said a good standard of living is the most crucial factor in deciding where they should next live.
  2. 23% of respondents said road networks and connectivity are vital, which suggest that a fully remote lifestyle is not ideal for most people.
  3. 10% of respondents said they are keen to live in an area which is likely to increase in value
  4. 9% of respondents said living close to hospitals was important.
Greg Malouf, Romal Capital’s CEO, comments: “We’re seeing a paradigm shift in how this country wants to live and work. Hybrid working options and lifestyle changes are two key elements driving this change in behaviour. Moreover, the temporary stamp duty holiday and the desire to cash in on significant property price increases in 2021 have also empowered decision making. In fact, in the same period a 16% property price-hike in Liverpool alone, underlines this very bullish market.”

Greg concluded by saying; “The current UK housing market simply does not match this new reality, and with these changing demands, needs to be a country-wide rethink on meeting housing needs.”

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.