It is fair to say 2020 was a unique and challenging year. A lot changed, and many of these changes will be commonplace for some time to come.
There is no denying that buyer priorities changed in the housing market. The impact of the lockdown period made many people re-evaluate what is important to them, and this was seen in buyer searches when looking for property.
Information provided by Good Move offers insight into what buyers were looking for, and how this differs from previous years.
Comfort and home socialising features mattered to buyers in 2020
The searches which experienced the highest growth compared to the previous year are as follows:
• Apartment with balcony (147%)
• Apartment with hot tub (139%)
• House with tennis court (127%)
• House with swimming pool (109%)
• House with driveway (107%)
Space, comfort and an increased focus on socialising at home are at the heart of all these searches. If you plan on selling your home, and you have unique features which stand out from the crowd, it makes sense to highlight these benefits.
You should also ensure your property listings detail these features that buyers want to see. When you call on the services of Country Properties, you can rest assured we will present your home in the most appealing manner, and this includes your property listing.
Nima Ghasri, Director at Good Move, comments: “Against all odds, this year has positively impacted the UK housing market and completely transformed the way buyers and sellers look at properties. More and more people are moving away from flats and apartments and into homes with outdoor space, and we’ve also seen many people looking to move away from cities into more rural areas.”
Rightmove also found a change in buyer searches throughout the year, and the results shouldn’t be a surprise.
Remote working is an everyday part of life now
Between June and October of 2020, 28% more new properties came to market compared to the same period in 2019. In these listings, there was an annual increase of 326% in listings that included terms such as “working from home”, “workspace” or “office”.
With remote working likely to remain a key feature as we move forward, this is to be expected. If you plan on selling your home, and you have ready-made office space, be sure to highlight this benefit.
Another interesting quirk which arose was a 110% increase in people searching for property classed as “no chain”. The stamp duty holiday deadline meant people had to be mindful of the speed with which transactions concluded, so minimising risk and delays made sense.
Rightmove’s Director of Property Data Tim Bannister said: “Over the past eight months, with the requirement for many people to work from home, we’ve seen workspaces evolving from laptops balancing on the end of the bed to fully equipped home offices in the garden shed, and everything in between. Many home-movers have determined that their current property doesn’t offer enough space for effective home working and have been trading up – either within their local area or looking further afield for that bigger home. Agents I’ve been speaking to have said that they’ve been inundated with requests from prospective buyers for properties with an extra reception room, an extra bedroom, or an extra building outside that they can turn into a functioning office. Working from home is here to stay for many, perhaps not full-time but certainly a few days a week, and so it looks like the trend of home-hunters settling for a make-shift place to perch a laptop seen back in March has been replaced with a more permanent need for space being added to their property checklist.”
In line with Government guidelines, our Biggleswade branch is open and our and lettings personnel staff are on hand to assist you. If you have any queries or need advice on property sales and lettings then please call 01767 317799 or email firstname.lastname@example.org.