Sunday, September 20, 2020
Real EstateUK

Demand for homes with outdoor spaces predicted to rise

UK real estate agents

Market outlook has improved with the lifting of lockdown restrictions

UK real estate agents are predicting a surge in demand for homes with private outdoor space or easy access to parks following Covid-19 lockdowns, according to a report from the Royal Institute of Chartered Surveyors (RICS).

Over 80 percent of British real estate agents surveyed by RICS expect a rise in desire for properties with gardens or balconies over the next two years; 74 percent predict a rise in demand for homes located near parks or other outdoor spaces; and 68 percent expect an increase in demand for homes with more private and less communal space. The sentiment survey included 237 responses at 479 company branches.

A majority of respondents expect a fall in demand for high-density homes.

According to 78 percent of real estate agents surveyed by RICS, tower-block living will fall out of favour.

Properties located at densely populated areas will be less of a draw, say 58 percent of respondents.

The demand for rural and countryside real estate has surged in popularity following the lockdown measures introduced across the UK in March, with potential buyers now preferring lifestyle changes.

As the lockdown has eased, there is a discernible increase in demand for properties from out-of-area buyers wishing to relocate into our area due to its low-density and high-quality environment, Roger Punch, consultant at Devon-based estate agency Marchand Petit, said in the survey.

Estate agents have expressed a renewed confidence in the real estate market as restrictions on the real estate market eased in England in May. Transactions and physical viewings were allowed in accordance with government-mandated measures on social distancing.

Agents surveyed by RICS expressed an improved outlook on sales over the next 12 months.

Important:
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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