Contrary to what many people thought, the pandemic and the consequences of it, have not hit the property market in the way that many may have thought. Some were unsure as to whether it would be positive or negative for real estate, and experts like Ali Ata said on the fence and simply monitored the situation. What we have seen is a slight climb in real estate prices and in many cases zero impact at all.
Notably however, we are spotting trends appearing once again amongst property buyers, and these are the kind of thing which they are focusing on.
It has been a while since we have seen so many people looking for a great amount of outdoor space in homes that they are looking for. On top of this we have seen a real increase in the number of people who want to buy homes which have landscaped spaces and gardens, as opposed to yards which offer a blank canvas. This is no doubt down to the lockdowns following the pandemic, and more people want to enjoy all four corners of their properties when they are at home.
Even before the pandemic there were more people working remotely than ever before, and this figure only looks set to continue to rise. With this in mind people want homes where they can set up an office space which is separate from the rest of the property and which gives them the perfect place for them to get away from it all and get their heads down to work.
At one stage it looked as if millennials in particular were less bothered about having modern kitchens than previous generations had been, and this is another change which are noticing. Younger buyers are in fact looking to buy properties which have renovated kitchens which are oven-ready – if you’ll excuse the pun – to start cooking in. Many properties which have kitchens that are in need of an upgrade, are struggling to entice buyers. This is owing to the obvious costs which come with the overhaul of a kitchen shortly after moving in.
For many years now people have done away with garages and instead looked to renovate them and turn them into additional living space. Recent surveys however suggest that more people do want a garage space for their vehicles, or as a workshop.
Leaving the City
Another consequence of the increase in remote working, as well as improved infrastructure such as high speed rail links, is that city living isn’t for everyone. More and more people are leaving big cities for suburbs, and this again shows no sign of slowing down. This offers the chance to invest in bigger housing in more spacious and relaxed areas, which of course city life struggles to offer.
These are the trends at the moment which have come about in-part due to the lockdown and because of changing attitudes towards housing.