Life moving out of lockdown……

As we slowly move towards a conditional phased relaxation of the “lockdown” – we have had a long time to think about life, where we live, how we live and how we would like to live;

This desperate and horrible virus has certainly changed the way in which we think, and reset priorities and goals; it has also brought out the very best in people and this country – many of these will hopefully remain for the future.

There will certainly be a rush towards completions and moving as soon as allowed – which does mean that there will be significant pressure on solicitors, surveyors and other professional advisors, as well as moving companies.

Values?

The general consensus seems to be that there will be some dip (+/_ 5%) in house values over the remainder of this year, however due to continued shortage of stock – good houses will demand good prices; the drive to find these houses has intensified, and will continue to do so – and hence we will potentially see more bidding wars over houses that tick all the boxes as outlined below; the outlook for 2021 is that prices will increase (+10% plus) – and will see a very active 2021 given the fact that this year was “paused” just at the moment that the market was really beginning to fly!

Management of Expectation

There is no question that the initially challenge will be the management of expectation between Vendors and Buyers; the feeling in the country will be that prices must rise as a result of this pandemic, and the urge for people to leave the bigger cities in search of a life in the countryside; likewise, buyers will be hoping that prices will be pushed down by the Covid factor.

The fact is that the shortage of supply will be the most major influence – as the number of buyer will have increased over the period of lockdown and this will maintain prices – and as said – for those that tick the boxes values will move only one way!

Is How we live changing?

The way in which we live and the demands of a home have also developed and changed; I see that we are going to see some reversion to some of the older desires of past years. The major fundamentals of what people are looking for have been focused by this terrible situation – and I think demands will be around the following major areas:

1. Internal Space

With the large majority of us working from home for the past months, and, in many case along side children trying to study, the layout of a house going forward will change; there will be a need for a home office by either extending into roof space/conversion of a bedroom, or the conversion of an Annex, stable or garage. When looking to buy – the ability to have this extra space to be able to have quiet areas separate from the main house are going to become more important.

We have until now been moving towards larger open plan rooms, with very little separation of space – this may change. Additionally companies have seen the benefits of employees working from home – and this is likely to increase going forward – so more dedicated office space at home will be important.

2. External Space

This virus has really demonstrated how important outside space is for us all – children and parents alike; previously the market was moving away from large gardens and looking for more low maintenance space outside – with entertaining being the major focus. This may also change. The desire to grow your own food, generate your own power and have space to run around and have a few chickens is how very much back on the hit list!

The ability to walk (or jog) straight into the countryside, woodlands, or meadows along a riverside has become a real luxury and something that has moved closer to its true value and is now another major consideration when it comes to buying a home. The possibility of a tennis court and swimming pool is also an attractive proposition that previously may not feature on the list of “wants”! Having this external space allows the ability to strive towards some kind of greener self sufficiency and the real “good Life” that Barbara and Tom enjoyed !

3. Communications and Broadband

Working from home and more time being spent “zooming” for both work and family, there is an increased necessity for excellent broadband. With the development of 5G – this should mean a strong mobile signal which will cope with the IT demands of a busy family.

4. Community – Villages and countryside

There is no question that the Virus has really shown the strengths of local community spirit; it has encouraged us all hearing stories of people looking out for one and another; Having small villages, ideally with a community shop, a good school, a pub, a local golf course and access to the main road and rail arteries is all very high on the list.

The desires for a new home remain the same – to have something that provides the best for your family in every rerspect; however the priority and the order of targets on the wish listis changing as a result of Covid19; Onwards….