How Will Housing Market Change In 2021?

A lot of things we take for granted are changing, or have already changed. At the start of the year, it is good to reflect on what has happened before, and what will hopefully lie ahead.

At Prestige & Village, we aim to provide you with as much support and guidance as we can. We work closely with buyers and vendors across the country. We also stay in touch with the latest studies and findings, helping us to ensure you make informed decisions in the property market.

There are strong thoughts on what will happen in 2021

The housebuilder company, Redrow, spoke to 2,000 adults in the UK to get their thoughts on the housing market as we venture into 2021.

James Holmear is the Redrow’s group sales director, and he said “There has been resolute demand for homes with more space to live and work as customers reflect on their lockdown experiences. With more people expected to work from home regularly, even after the worst of the pandemic is over, space to work from home has rocketed up the list of priorities for buyers.”

James also said; “We are also now more reliant than ever on broadband and along with water, gas and electricity, strong internet connection is now seen as the fourth utility. For many this year, a robust connection has been the only way to maintain both their professional careers and social entertainment and poor access can be frustrating, impact quality of life and even lead to isolation and loneliness. Today, broadband connectivity is one of the first things potential buyers want to discuss with us when they come to visit one of our new developments.”

Most of the developments have been seen as evolving throughout the year. The increased demand for larger homes and garden space shouldn’t be a shock.

James Holmear also said; “With more time spent at home, gardens are becoming increasingly important and are now the top priority for many buyers when searching for their next home. In the colder months, we’re seeing high demand among residents for gardens that offer the potential to provide snug entertainment spaces that can be quickly equipped with fire pits and outdoor kitchens.”

Remote working will be a major issue in 2021

The Redrow survey found less than one tenth of respondents want to live closer to their place of work, and 49% are happy to move further from their place of work.

Holmear explains: “This year, city dwellers have seen the benefits of living away from traffic pollution and crowds, and are now in search of a healthier lifestyle – even if this means looking further afield where they can find attractive price differentials that will enable them to afford the extra room they crave. There is now less need to live near a place of work, encouraging a general movement away from cities, and a willingness to commute further and less frequently. Our research found that a quarter (23%) would be happy to spend an extra 30-minutes travelling to their place of work and we’re anticipating a big rise in the ’90-minute commute’ which in future is only done a few days a week.”

At Prestige & Village, we care about our community, and supporting others. We aim to provide you with as much help and assistance as we can. If you have any property or housing questions, please feel free to contact us today.