How will Covid-19 impact future property choices - Jo Eccles speaks to Investec
Jo Eccles, Managing Director of SP Property Group was recently invited to be part of a property panel for Investec, discussing future housing market trends and how property choices will be affected.
One of the topics discussed was people needing more from their homes. No longer will they just be a private place to relax.
For the full panel discussion click the link below:
Homes now need to be able to deliver so much more – to provide viable and functional work zones, to allow more entertaining (when lockdown lifts) as we expect people to eat out less, to give space for each member of the family and so on.
SP Property Group has already seen this have a knock on effect with buyer attitudes, realising that they need to put more emphasis on their primary residence and ensure it will meet their current and potential future needs.
For example one of their clients upsizing to a family house was planning to retain her existing flat as a long term buy to let. But since lockdown and the prospect of now being able to work from home more regularly, has decided to sell her flat and add the proceeds to her budget to enable her to buy a larger house with more space.
Further greater value is being placed on outside space, as buyers - particularly city dwellers - seek the chance to get outdoors and, crucially, reconnect with nature. For this reason, there is likely to be a premium on gardens and green spaces. Green space should not be in competition with housing - instead, residential new builds should be seen as an opportunity to facilitate the provision of green space, especially in built-up areas.
