Changes In Working And Personal Relationships Driving Property Market In 2021

9th March 2021 posted in SELLERS

Remote working and spending a lot more time at home has caused people to re-evaluate what matters to them at home. This has led to many people looking to move home.

However, there have been many personal and professional changes for people to deal with in the past year. These have also influenced housing moves in the past year, and will continue to do so in 2021.

House moves happen for many reasons

Not every change is a sad or negative one. 2% of respondents said their property move was down to moving in together after getting married. This will be seen as a happy and positive outcome for the people involved, and will hopefully give other people optimism as to what will happen with their circumstances.

There will also people downsizing to a more manageable property. There has been a lot of focus on people looking for more space at home, and the majority of property buyers have looked for larger homes.

However, space doesn’t just mean the size of a home. There will be people who currently don’t have a garden space at their property who, by moving to a smaller property, now have a garden space. If you have youngsters, pets or you love socialising outside, this sort of move could make you feel much more at home.

Outdoor space matters as well

There is also the fact that outdoor space such as parks, green spaces and the countryside might be more important than the size of a room. In some cases, people who downsize their home might be trading it in for something far more expansive and enjoyable for their health.

It should be remembered though that many people who are downsizing will do so because of financial matters. The pandemic and lockdowns affect people and businesses, and a lot of people have made tough decisions regarding their finances.

At this point in time, making a tough but sensible decision to downsize might be a crucial factor in helping families stick together and make the most of the current situation.

It should be noted in the study that 11% of respondents said they are moving home for financial reasons. We should never underestimate the impact the past year has had on people’s finances, and the difficult decisions it has left many people to make.

Relationship breakups drive property moves too

It should also be noted that remote working and spending more time at home will place some relationships under greater pressure.

Yes Homebuyers conducted a survey which outlines the reasons why people are moving home:

  • Divorce or end of a relationship cited by 23% of respondents
  • Relocating for personal reasons said by 21% of respondents
  • A desire to have more space was said by 19% of respondents
  • 11% of respondents said they were relocating for work reasons

The same Yes Homebuyers study also suggests searches for divorce guidance have increased by 25% due to COVID-19, and enquiries with divorce specialists have risen by 122%.

Currently, in line with Government guidelines, our Letchworth Garden City branch is open and our and lettings personnel are here to assist you. To clients old and new, if you have any queries or need advice on property sales and lettings then please call 01462 481100 or email ian.ellmers@country-properties.co.uk.