Post-lockdown buyers swap flats for houses

Aaron Morby 5 years ago
Share

The first signs are emerging that the lockdown has impacted on the type of homes buyers now find desirable.

Estate agents predict highly urban homes will become less attractive
Estate agents predict highly urban homes will become less attractive

A change in attitudes could drive a reassessment of urban scheme design and construction as tower blocks lose their appeal, warns a survey of the UK’s estate agents.

South east volume house builder Weston Homes reported this week that it has already seen a wave of buyer enquiries for new homes in the Home Counties as purchasers sought to relocate from inner London.

A possible post-lockdown shake-up in attitudes to housing types and locations emerged in the latest RICS residential market survey.

Nearly 80% of estate agents who had spoken to buyers since the 13 May reopening of the housing market felt there will be a fall in the appeal of tower blocks.

The same proportion predicted an increase in desire for properties with gardens or balconies, while nearly three quarters predicted an increase in demand towards homes located near green spaces.

A majority also expected properties located in highly urban areas would prove less enticing now.

Although the majority expected no change in the desirability of homes located near transport hubs.

Simon Rubinsohn, RICS Chief Economist said: “Following the reopening of the housing market in England, pre-Covid sales that were in the pipeline are now largely going through.

“This is encouraging but it remains to be seen how sustained this improvement will prove.

“Much will inevitably depend on the macro environment and, in particular, the resilience of the jobs market as the furlough scheme unwinds. For the time being respondents to the survey see the trend in transactions being broadly flat.

“Alongside this, there are already signs that those looking to buy a house are responding to the conditions created by the pandemic by seeking out properties with gardens or balconies and nearer green space. These and other similar features are likely to increasingly command a premium over higher density urban locations according to respondents to the survey.”

Latest news

Bid rigging probe launched into school repair work

Firms raided this week with focus on roofing contracts
1 day ago

McLaren hires ex-ISG regional boss for north east expansion

Andrew Beaumont becomes MD of new Yorkshire and North East business
8 hours ago

Government commits to four new prisons in seven years

£2.3bn pledged for new prison build programme
1 day ago

Road and rail delays hit revenue at Van Elle

Turnover drops 5% as markets remain challenging for piling specialist
7 hours ago

Boot reports ‘noticeable improvement’ in planning system

Government planning reforms already unblocking council planning
7 hours ago

Go-ahead to revamp former London city hall

Project will straighten the building's leaning profile with terraces to every level
15 hours ago

United Living to divert Midlands gas pipeline

600m pipeline diversion clears way for M54 to M6 link road construction
6 hours ago

Credit insurance saves Billington from ISG hit

Steel specialist puts on extra shifts at its plants to cope with demand
1 day ago

M&E specialist Dodd doubles profit on retrofit surge

Family-owned Telford specialist delivers record revenue of nearly £250m
1 day ago

Go-ahead for 800-home Croydon dual towers

One Lansdowne Road build to rent scheme to cost £260m to build
1 day ago

Construction inflation set to return raising tender prices

End of 2024 to mark the bottom of present inflationary trough
1 day ago

Start date for vast Balfour and Costain carbon capture power job

£4bn Teesside project to start construction next year creating 3,000 jobs
2 days ago

Plans go in to start revamp of North Finchley town centre

Developer Regal unveils first details of Barnet masterplan
1 day ago

Glencar bags £18m Big Yellow London store

Six-storey stoarage centre to be built at Staples Corner
1 day ago

Plan unveiled for 31-storey London Fenchurch Street tower

Demolition work to start in 2026 for new office tower
2 days ago

Vinci Building buys tower cranes for first time

Contractor invests in two WOLFFKRAN all-electric cranes at £138m Sheffield site
2 days ago

30 local firms land United Utilities £500m framework

Minor works deal win for North West civils and M&E specialists
2 days ago

Restructure pays off as Higgins returns to profit

Housing contractor recovers from £25.9m loss last year
2 days ago

Former Heathrow boss joins Mace in board rejig

Firm completes string NED appointments to expanded group board
3 days ago

Planning officers to get powers to bypass committee stage for housing

Rayner reform plan to cut out local council planning committees
3 days ago

National Insurance hike to delay construction recovery

Arcadis paints varied picture with full recovery delayed until 2026
3 days ago

Gratte Bros rides out cost rises with profit increase

M&E specialist warns of further upward pressure on wage costs
3 days ago

Sellar’s 36-storey London City office tower approved

Demolition work to start in 2026 at 60 Gracechurch Street site
5 days ago

Roofers caught using phone lights to work at night

Roofing boss handed suspended prison sentence for lack of edge protection
3 days ago

£380m North West housing framework out for bid

St Helens-based Torus aims to build 9,000 homes by 2029
3 days ago

Historic property magazine to close

Estates Gazette has been in business since 1858
6 days ago

M&S Marble Arch rebuild approved after three-year planning fight

Plans were delayed when Michael Gove backed carbon campaigners
7 days ago

£191m revamp funding approved for London Barbican Centre

Construction to start in 2027 on five-year programme
7 days ago

RED Construction tops £100m turnover

Builder maintains profit margin at 1.7% as business nearly doubles in size
6 days ago

Timber designs shortlisted for roads ‘footbridge of the future’

Three of five designs for National Highways propose timber structures over busy highways
6 days ago

Contractor services