Property - which properties are in demand?

The UK Property Market in 2022

Types of houses and locations in demand by Helen Say

What happened during the pandemic COVID-19, political instability, and climate change have destabilised the UK, and these factors seem to have effected what we prioritise when we’re looking to move home. During the pandemic, buyers and renters swapped cities for the open space of the countryside, bought bigger homes or expanded spaces for hybrid working arrangements. Some of these trends are staying, others reversing. A return to city centres Property companies are seeing a slowing down of “race for space” prompted by the pandemic. A recent survey by Nationwide found that the number of people looking to escape urban life had declined substantially. City centres are opening up again and estate agents are reporting a rise in demand for flats and houses close to train stations. Estate agents report a 20% increase in demand for properties in cathedral cities, citing ”Bridgerton Effect” as the cause. Bungalows growing in value and popularity According to Rightmove, single-storey homes grew 10.5% in value last year. Bungalows are becoming popular for younger people and families due to: flexible space as they tend to have a bigger footprint, easier maintenance with no high windows to clean and easier access to guttering and roof, often more eco-friendly as they use less energy to heat, usually built on large plots with sizeable gardens where children can play while not being overlooked by neighbours. Serviced apartments in demand Serviced apartments prove preferable to a hotel room for those who moved away from their place of work and only return to the office on occasion. Serviced apartments are fully furnished, selfcontained apartments in a building with fully equipped kitchen and private keys. They can be a studio flat or have 1 or 2 bedrooms and come with utilities included in rent and housekeeping service. You only pay for nights you stay there. Helen Say copywriter/blogger - cblservices.co.uk

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