In a recent blog we looked at Brexit which loomed large over the property industry. Now we have a new threat, the recent pandemic. This may not be all bad however and as they say, every cloud has a silver lining. The Corona Virus has led many people to re-think the way that they live and work, and of course where they live is a vital part of that decision. Since we have been in lockdown most people have not been at work and many companies have asked staff to work from home. People are increasingly thinking of moving to the countryside according to a recent Savills survey.

Home Working

As a result Savills recently announced an increase in interest in moving out of urban environments and into the countryside. Indeed 4 in 10 people who are interested in moving are now considering a move to the countryside. According to Homes and Property ‘thirty per cent of Londoners questioned are now more likely to consider a village or countryside location for their next move’.

This is of course an interesting prospect for the demographic of the country. The value of property in London, for example, is clearly higher than many other parts of the country. This could mean a temporary rise in sales of higher value countryside property, particularly in areas outlying larger cities. For Newbury this could spell a booming market!

 

Outdoor Space

One of the features of rural versus urban living is the outdoor space. As we are no doubt aware, city living usually means smaller outdoor spaces (although public parks are of course a feature in most cities) whereas rural areas, where land value is usually lower, mean larger gardens. For those with children this can be the feature that swings the decision away from the city.

There is no doubt that the world is changing as a result of the pandemic, will you stay put or move?

The most recent Savills blog can be found here: https://www.savills.co.uk/blog/article/291738/residential-property/moving-from-the-city-to-the-country.aspx