Tenant demand for rural properties is predicted to continue throughout the pandemic
Living through lockdown left many people around the UK rethinking their living situations, and now – as we enter the next phase with the country’s second national lockdown – we’re finding that homeowners and tenants are more motivated than ever to find somewhere that’s more suited to their needs and lifestyles.
Rather than providing us with a sanctuary from workday stresses, our homes have been transformed into temporary office spaces and school rooms, leaving little room for us to unwind and detach from the day’s events.
Recent data suggests that one in five landlords believe that demand for more space will drive tenants from urban areas to the countryside over the next few weeks and months; particularly if remote working becomes a permanent norm for businesses.*
This shift in attitudes is already apparent when you look at migration patterns across the UK.
According to the latest rental market report from Zoopla, there is a supply-demand imbalance supporting positive rental growth across all regions and major cities outside of London.
Have you been thinking about letting your property?
With the UK workforce experiencing its second national lockdown, it’s thought that businesses will become even more reliant on remote working practices, having a knock-on effect for the property market and reducing our need to live close to the office.
If you’ve been considering expanding your portfolio as a landlord, now is the perfect time, with increased demand and value for rural homes.
To find out more, contact our team of property professionals today.
*The mortgage lender
This article was originally published by BriefYourMarket and is reproduced here with their permission.
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