When it comes to the property market in 2021, living close to parks and open spaces is going to be vital. With England once again in lockdown, people are facing up to the harsh reality of most of your time being spent at home.
If you are fortunate enough to have a garden space, you have the chance to exercise and enjoy fresh air in peace. However, if you don’t have this facility at home, it is likely you will desire an open space close to you.
We saw that buyer demand in 2020 shifted to focus on homes in areas that offered open space. It is also fair to say London isn’t always the best location for parks.
However, this isn’t the case in Camberwell. Camberwell Green takes centre stage, and it is not an exaggeration to say the green space on offer has been vital for many people in the past year. As we move into 2021, it is likely this park will help many people make the most of their day, and we believe Camberwell Green is a vital component of the local property market.
The lockdown has changed property buyer expectations
Michael El-Kassir is the managing director of GRE Assets, and he said; “With the imposed lockdown restrictions meaning people have spent much more time at home this year, we believe this has led to a distinct rise in the number of people seriously considering their next property move. Low interest rates, the existing Help to Buy scheme and stamp duty incentives, have also created a sense of urgency.”
Michael continued by saying; “The pandemic has been a wakeup call for prospective buyers and renters, who have reassessed their priorities when looking for their next home. Not only are they spurred on to make the leap from London, they also recognise the importance of having access to green space, whether that is nearby parks, balconies, terraces, and gardens.”
Michael El-Kassir from GRE Assets also said; “The working world has also seen a vast shift, as employees and companies have adapted to working from home. While people will return to the office as the latest restrictions ease, we strongly believe businesses will continue to work flexibly moving forward, meaning adaptable space and connectivity at home is of high importance for new homeowners.”
Simon Rubinsohn, RICS Chief Economist commented: “The latest RICS survey provides firm evidence of a strong uplift in activity in the housing market which should help support the wider economy gain traction over the coming months. More of a concern is the pick-up in prices which could intensify issues around affordability in some parts of the country. Disaggregated data shows demand generally to run ahead of supply.”
Simon also said; “Meanwhile the results provide a further pointer to more substantive changes taking place in household behaviour in the wake of the pandemic. Increased demand for properties with garden and near green spaces has if anything increased since we tested the water in May.”
If you are looking for guidance or information regarding the housing market, please get in touch with Hunters Camberwell. As a local estate agent who has the support of a national network, we are ideally placed to provide you with all the help and guidance you need to make an informed decision, so please contact us today.