Cities are making a comeback with buyers and tenants
The pandemic took a toll on the UK’s previously bustling cities, with empty streets and closed down businesses becoming the new norm for many residents.
Due to changing lifestyles, it wasn’t long before buyers and tenants turned their attention to rural living, with increased enquiries and searches for properties in more remote, tranquil locations.
In fact, for most of 2020, demand for rural properties outweighed demand for city properties, with countryside searches on Rightmove up 69%.
With the easing of lockdown restrictions and the prospect of the UK getting back to normal, we’ve now seen that interest reverse once more, with urban living now taking the lead.
What are buyers and tenants looking for?
From January 2021, flats located in major cities have seen a 39% increase in demand, says Rightmove.
This shows a strong contrast from 2020 trends, where ‘larger family homes’ were the most popular choice.
But what are the reasons for the sudden switch in demand?
As well as the lockdown roadmap, another huge factor behind the spike in interest for cities is the UK’s vaccination program and successful rollout, as this has led to optimism for the housing market and consumer spending in general.
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This article was originally published by BriefYourMarket and is reproduced here with their permission.
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