Changing Priorities For Buyers and Tenants

16th June 2020 posted in Property News

We believe there are strong reasons why people decide to live in West Hampstead, including the quality of homes, local schools and commuter options. However, we also believe there is a lot to like about the local area, and that there is a strong sense of community. Compared to many parts of the capital, West Hampstead has a spirit and vibe that makes people feel as though they are home.

We also believe that community and feeling a sense of belonging in an area is going to be more important for people as we move forward. A lot of people have taken great comfort from people around them during the COVID-19 pandemic. There have been many challenges, but the sense of community and the hard work done supporting vulnerable people has been one of the few bright spots of recent months.

A sense of community is becoming increasingly important

It is therefore interesting to note that this feeling has arisen in a recent study undertaken by Rightmove. The leading property portal has spoken to buyers and tenants recently, and 57% of respondents say they feel a greater sense of community in their surroundings. This might mean some people will want to move locally, or it will mean people will research the sense of community in an area before moving further afield.

This is one possible change that will arise in the housing market, and it is important to acknowledge there might be many changes in what buyers and tenants are looking for. The Rightmove study also asked buyers and tenants what they want to see in their next home, and it is easy to see the influence of the COVID-19 pandemic on the answers.

Gardens will always be important for property buyers

63% of prospective buyers said they are keen to move into a property which has access to a garden or which has a larger garden. 59% of tenants cited having access to a garden as the leading factor when they next move home.

You will also find many people are looking to move to a larger home. 43% of prospective buyers have said they would like to move to a larger home while 41% of tenants indicate they wish to move into a larger rental property for their next move.

One issue which has taken centre-stage for many people of late is remote working. If you have been working from home of late, you will know the benefits of having a dedicated workspace. Therefore, it shouldn’t be a shock to learn 36% of prospective buyers said they are keen to move into a home which has a suitable workspace.

Other changes buyers are considering for their next home include:

·         Living closer to friends and family members, said by 24% of respondents

·         Living closer to non-essential amenities, was cited by 15% of respondents

·         Living closer to essential local services, raised by 13% of respondents

If you need any help or guidance regarding property matters, please get in touch. As your local housing market specialists, we will do what we can to ensure you make your next house move in style. Contact Hunters West Hampstead today for all your housing and letting needs.