The impact of Covid-19 and its influence on the post-lockdown housing market from Stoneacre Properties
James Newman, Director of Stoneacre Properties discusses the impact of Covid-19 and its influence on the post-lockdown housing market.
As we begin to move towards a post-Coronavirus world, new priorities are emerging in the housing market. There is a significant trend towards real estate that includes dedicated office space, balconies, expansive gardens and proximity to parks and outdoor recreational areas. After spending months indoors, new importance has been invested in the virtue of space, both outside and inside of a property.
Richard Donnell, director of Research and Insight at Zoopla explains that “many households are likely to have re-evaluated what they want from their home.” In recovering from the initial downturn caused by the Covid-19 pandemic, the property market has seen a shift in demand. Compared to May 2019, a staggering 84% more of people looking to rent in May 2020 are focussed on securing real estate with a garden. This reflects a proportionate movement away from other features, such as kitchen and bathroom design, towards a desire for the increased square footage that creates an ideal home workspace, or space that allows for outdoor activities, whether a balcony, roof terrace, personal or communal garden.
These changes are mostly inspired by shifts in personal lifestyle we have all experienced due to the Covid-19 outbreak: not only do people want to live closer to their loved ones and have better access to essential services, but they have developed new hobbies. In particular, people who have started partaking in outdoor exercise, reading outside and gardening during lockdown have expressed an overwhelming desire to continue doing so in the future. The premium these activities put on outdoor access and the increased importance of free time in our reinvigorated sense of work/life balance is being actively catered to by savvy property sellers and developers focussing on locations with gardens and other outdoor spaces.
The biggest increase in online real estate enquiries during lockdown revolved around locales dominated by scenic river views and coastal towns. According to a Rightmove survey there has been a 30% uptick recently of buyers who want to live in rural areas, inspired by the new premium on access to green spaces.
Stoneacre Properties have a large selection of properties on the outskirts of Leeds, perfectly balancing proximity to the city with a more rural lifestyle that allows for plenty of space inside and time outdoors, in your own garden or enjoying easy access to communal green spaces. Below are some examples of the properties we are renting and selling as lockdown draws to a close featuring gardens and home office space, completed by excellent locations.
Stoneacre Properties, a leading Leeds Estate Agency, offer a one-stop property-shop serving North Leeds, East Leeds and beyond. The prestigious offices in North Leeds and East Leeds provide residential sales and lettings, full property management services, all aspects of commercial property, legal services and in-house mortgage advice and financial planning.
Stoneacre Properties works with buyers and sellers in order to add enhanced value to their properties whether to occupy or for investment potential.
Progression and development have seen Stoneacre Properties establish themselves as premier Leeds Estate Agents with a traditional philosophy. Treat all our clients with respect, continue to demonstrate a hard work ethic and exceed service standards at a competitive price.
If you are interested in viewing one of the properties Stoneacre has for sale or are looking to sell your home contact them on 0113 237 0999.