This last year has been an uncertain time for everyone, but especially in the housing market, which has seen many restrictions in the form of viewings and availability of properties. With the end of lockdown and restrictions easing, what could that mean for the housing market?
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City Centres
For a while it seemed that many employees were considering moving away from city centres, as they were required to work from home, and the most important consideration was not where you lived but how fast your broadband was. So for some it made sense to move somewhere away from the city so they could enjoy the outdoors too. But with the end of lockdown, it now appears that many are rethinking this decision, and city centres are once again becoming attractive to buyers using conveyancing firms such as Sam Conveyancing to complete the paperwork. City flats especially are in high demand, as it appears that with the success of the vaccination programme many employees have regained their confidence about living in an urban area – whereas before it seemed that there could be an exodus from the urban areas to ‘idyllic’ rural areas.
Rural Areas
Rural areas have always been attractive places to live, especially for families to bring up children away from heavily populated city centres and town traffic. The rules and restrictions surrounding lockdown-working largely influenced moves to the countryside. As many had to work from home, and it was seen as the future of employment, relocating to a rural area was achievable. The only foreseeable problem was broadband speed. But surprisingly, with the success of the immunisation scheme a renewed interest in urban areas has been reported by estate agents, with some estate agencies seeing an uptick in the demand for city properties.
City Versus Rural
The rise in demand for rural accommodation during lockdown had the effect of increasing rural house values to the same level, or higher, as equivalent city properties. Now, with this recent interest in city properties, buyers are able to pick up genuine city bargains and arrange competitive conveyancing quotes too.
And as buyers regain their confidence in the post-lockdown employment market, it is expected that these city properties will once again regain their higher value as employees return to their previous working routine away from home.
It was inevitable that there would be an effect on the housing market because of lockdown. Some employees may choose to change their working life permanently away from the city. But it does appear that there is renewed confidence in city life, which is being demonstrated by an uptick in the demand for city properties.