A sudden outbreak of the new crown epidemic not only disrupted the rhythm of people's lives, but also affected all aspects of people's lives.
Even the housing market has undergone many changes during the epidemic, and under the continuous lockdown, people have become more eager than ever to be close to nature and eager to have more living space...
For a time, "large living space, large outdoor space" became the most popular feature of the property for sale, which not only made the villa very popular, but also led to a wave of housing purchases in rural areas.
Now, two years after the outbreak of the new crown epidemic, the UK has long been completely unblocked, and the UK housing market has quietly undergone some changes.
According to Rightmove's latest research, some of the trends in the UK housing market during the pandemic have reversed, with these specific points:
1. Urban life is making a comeback
In the report, Rightmove said that from April 2020, we saw a decline in demand for urban housing from rural residents. On the contrary, in the "space competition", the countryside has become the first choice for buyers. But as many return to the office and enjoy city life again, we are now seeing a pick-up in housing demand in big cities.
Tim Bannister, a real estate expert at Rightmove, said: "At the beginning of this year, many people are prioritizing proximity to where they work, rather than having more space."
He added: "This has led to a decline in the number of people who want to leave the city, but more people want to travel from rural areas to the city, and there is an increase in related consultations."
Rightmove's data shows the number of buyers looking to move from rural areas to some of the UK's biggest cities, including London, Bristol, Liverpool and others, has increased by 50% compared to the lockdown period in January 2021.
Not only has demand for urban housing picked up, but so has the rental market.
In London, for example, Hamptons' latest research shows that so far this year, 30% of London's homes have been rented to "outside tenants", meaning that 3 out of every 10 homes in London have been rented to people who previously lived outside the capital.
This figure is the highest level in nearly a decade, compared with an average of just 23% in the first five years of COVID-19.
The agency said that in addition to employment, the culture and lifestyle of the capital is also the most attractive point for people after the epidemic.
In fact, long before this, large cities such as London showed positive signs of recovery, and there was a widespread return of people.
According to SkyNews research, people are once again opting for city life after the pandemic, with London and Manchester being the most popular places to migrate.
The data shows that the population of north-west London and Salford, just a few miles from downtown Manchester, has both grown by around 6 percent over the past two years, which SkyNews believes reflects the increased attractiveness of the city.
Not only that, but over the past two years, the populations of all ages in London and Manchester have grown.
In this regard, Anthony Breach, a senior analyst at Centrefor Cities, said that after two years of lack of entertainment and leisure activities, with the weariness of long-distance commuting and the yearning for urban life, many people hope to return to the city and enjoy a colorful life and more employment and social opportunities.
2. Searches for houses near subways and train stations have skyrocketed
During the pandemic, many people have chosen to work from home to stop the spread of the virus, and the demand for transportation has declined, so living near subways and train stations is no longer a priority.
However, as many companies require people to return to work after the unblock, commuting is gradually returning, and the demand for convenient transportation is also increasing.
The "Pret Index" from Bloomberg (derived from the trading volume of the restaurant chain Preta Manger, an important indicator of traffic in a region) shows that the City of London's current foot traffic has reached 89% of pre-outbreak levels, the highest level in recent times.
At the same time, the passenger flow of London underground and railway stations has approached 99% of the pre-epidemic level and is basically back to normal. At London Airport, London's West End has long exceeded pre-epidemic levels.
These figures not only reflect that London has returned to normalcy, but also show that Londoners are returning to work in an orderly manner. Naturally, the convenience of commuting has become a consideration for many people when buying a house.
Tim Bannister, a real estate expert at Rightmove, said: "Since late last summer, businesses have started asking people to return to work and welcoming employees back to the office, and for the first time we have seen a surge in searches for homes near metros and train stations. Earlier this year, we saw a similar trend, suggesting that more and more people are returning to the office and looking for properties that will make it easier to get to work. ”
The data shows that homes near Brixton Station in south London saw the largest number of buyer searches, up 171% since 2021.
At the same time, search volume for many commuter hotspots has also increased. Among them, commuter lines from Chelmsford to London were very popular with buyers, with search volume increasing by 118%.
In the rental market, rental searches near Ashford International Station in Kent increased by 261%.
3, the apartment into the most sought-after type of real estate
The experience of staying at home during the epidemic has made many people have the idea of buying a big house, which also makes the villa "steal the limelight" in 2020 and become the most popular property type at that time.
This is actually not difficult to understand, after all, under the restrictions of the epidemic, a family is crowded together, there is nowhere to work, nowhere to exercise... People naturally want as much space as possible.
However, as more and more people return to work downtown, we are seeing a greater increase in demand for small apartments.
Rightmove said three-bedroom apartments are now more sought after than three-bedroom homes, suggesting that while buyers may be looking for extra workspace, they are balancing more space with the resulting financial pressures.
Rightmove's data shows that buyers' demand for London apartments increased by 27% in January compared to last year, more than any other property. Apartment prices in The five boroughs of Barking & Dagenham, Greenwich, Newham, Hackney and Tower Hamlets in London have seen price increases that have outpaced the overall property market, reversing the trend of the past two years.
At the same time, London Central Portfolio also pointed out in the report that more and more professionals are returning to the office, coupled with the return of students and overseas business people, London apartments are becoming more and more popular with customers, and the rental demand is very strong.
4. Buyers' demand for real estate is more clear
Rightmove said that before the pandemic, most buyers looking for homes did not limit their search to specific property types, but were willing to consider various types of homes.
But now, many buyers are more explicit about their property needs and know exactly what kind of property they are looking for, which means that it is now most common to search only for a particular type of property.
For example, someone who needs extra office space will focus on three bedrooms, and someone who needs more outdoor space will search for a house with green spaces and gardens.
Overall, Rightmove said, people's love of green spaces and gardens has not changed after the pandemic, with a 70 percent increase in searches for gardens compared to two years ago.
However, experts also pointed out that due to the scarcity of urban land resources, the so-called outdoor space is not limited to private gardens, and those with balconies or terraces, surrounded by park greenery, or first-class greenery in the community are also popular.
5) Location is not always the first
We often say that when buying a house, we first look at the location, but according to Rightmove's research, there are some buyers who do not take location as a priority when buying a house.
Rightmove said that because some buyers don't want to compromise on property types, for example, if they want to find a house with a garden, or a house with extra bedrooms that can be converted into a home office, they will choose to move farther away on a limited budget.
In fact, according to the study, people have expanded the search to 58 square miles, which is 25 times the size of Monaco or the entire Manhattan. Expanding the search, there will be about 6,000 more properties to choose from.
However, Rightmove said that people choose to expand the scope of their home search, in addition to the budget, and the convenience of transportation to make long-distance commuting possible, there is also a situation that UK property is in short supply, and buyers have to expand the range of locations they want to find a suitable home in the highly competitive real estate market.
In addition, experts also pointed out that whether to use location as a priority factor also varies from person to person, and the focus is also on whether their work is suitable for long-distance commuting, and also balance the time and economic costs of long-distance commuting.
Tips for the end of the property circle:
As we all know, the epidemic has changed the way people live, and it has also made large spaces, houses with green spaces more popular.
But with the lifting of the uk's lockdown and people starting to return to work, some of the trends that have formed during the pandemic have reversed.
As people's lives gradually began to return to normal, many people re-chose the city to work more conveniently, while also enjoying the city's rich entertainment and leisure facilities.
Not only has this made city life attractive again, but it has also led to an increase in the prices of apartments and properties near transportation hotspots.