THE TRANSATLANTIC MAGAZINE
THE TRANSATLANTIC MAGAZINE
A study by UK polling firm YouGov has found that the coronavirus pandemic is prompting property buyers in Britain to reconsider what they're looking for in a home.
The study asked those who are looking to buy a property how their approach has changed since the onset of the pandemic and the associated lockdown which has kept most UK residents indoors in recent months. 32% of respondents said that a garden was now more important than it was before the lockdown, whilst 26% said that a home near "parks or nature" is now more important.
Echoing recent surveys indicating the prospect of more remote working, YouGov also found that 29% of property buyers think a home office space is now more important. 15% said it is more important for them to find a property near "where few people live", whilst 14% suggested a balcony or terrace was also among their higher priorities.
The survey highlights a shift in thinking in the UK, with the pandemic offering opportunities to reflect on changing lifestyles, including more remote working and less time spent in busy public spaces. The survey may also reflect the unknown timeframe of the virus, with the study focusing on those currently in the market for a property.
However, if you're moving to the UK or planning to buy a property here, these shifts could have impacts on property demand and valuations, so they're worth being aware of for those looking to sell as well as those looking to buy and invest.
The full data from YouGov's study can be found at https://yougov.co.uk/topics/finance/articles-reports/2020/08/06/pandemic-has-made-properties-gardens-more-attracti
