What a year 2020 has been. It’s been a year like no other and I don’t think anybody could have predicted the boom to the housing market, the increase in property prices and the huge shift in the way we live and what we now want from our homes. Not even the Doc in “Back to the future” could have predicted this, although he did warn Marty not to go to 2020!
During the first lockdown, many homeowners took on improvement projects to their homes. Two friends created a home bar, several did work on the garden and many had big clear outs, only to discover the tip wasn’t open! Paint sold out in many DIY stores and plasterers had the struggle to get their hands on any plaster, such was the demand. When the housing market re-opened in May, demand for property soared. However there was a notable shift into what buyers were looking for, and this looks set to continue into 2021.
Let's take a closer look at what has been happening
Keywords on Rightmove and Zoopla
It is always worth noting what potential buyers are searching for when the big property portals release this information. Keywords post lockdown included words such as garden, garage, parking, detached, rural, secluded, balcony, freehold, annexe and bungalow.
Talk to a potential buyer and many of them are looking to upsize for more space. For some, this is space around them, for others it is the need for an extra bedroom - often to be used as a home office. What has become very apparent is that more people than ever are working from home and for many, it’s going to be long term. People want to zoom in private!
Outdoor space namely a garden has become one of the biggest must have’s of 2020. Everybody can still feel the effects of the March lockdown and the need for a garden has been one of the biggest driving factors in peoples moving plans. Even when it comes to apartment sales, buyers are looking for homes with balconies or terraces.
There has been a big shift in people looking to move out towards the villages and coast. Fresh air and green space have been a big influence, people feeling the fresh sea air and open countryside has to be better for a persons health and also social distancing. Because many people are now working from home, they have realised that they no longers to have live where they work, hence it has been reported many London residents leaving the city.
In 2020 many people have taken the time to realise what is truly important to them and many of decided this includes a change in lifestyle. Some people have thrived in lockdown, re-connecting with family and loved ones. One client reported a simple joy in being home was being able to eat dinner with his daughter and be there for her bathtime. Because of this the sense of community and being closer to loved ones has become an important factor in moving decisions.
Where you live is important. It is part of who you are. Many of us won't be going on holiday any time soon and many of us will find working from home and meetings via zoom become normal. The stamp duty might be ending in March however other savings will be made in 2020 from fewer costs through commuting to the office and sadly fewer holidays overseas.
Will you choose to make alterations to your existing home so it works better for you or will you look to move in 2021? Whatever you decide, here at JDG we are to help you. Call us on 01524 843322 or email us at email@example.com