Where and what has the demand been for property in 2021?
And what will it be like in 2022?
Chiltern Relocation has had an interesting year which started in lockdown and with many travel restrictions in place limiting relocations from our overseas clients. However, we have seen healthy interest from house buyers and renters from all over the UK during the year – but for reasons that have been quite different to previous years.
2021 has been a year characterised more by the need to move rather than the desire to move. For this reason, the market has been more buoyant than expected during pandemic times.
The need for extra office space to accommodate more people who are working from home has been a big driver. Also, those who experienced the first lockdown in small city housing were keen to get out towards green space and larger housing. Sadly, this year has also seen a ‘divorce boom’ as the pandemic has caused an enormous strain on some relationships. As a result, the housing market is feeling the pressure as two people needing to find a house (at approximately the same budget) for every house sold due to divorce which is pushing up demand even further.
We have been thrilled to help a wide range of clients this year who have moved for a variety of reasons. However, unlike previous years we have seen a shift in demand away from properties within walking distance of the train station and a move towards village living.
Typical pre-lockdown priorities
- Schooling
- Distance to train station
- House
- Garden / feeling of space
- Park outside their own home
- Facilities in the locality
Post lockdown priorities
- Schooling
- House
- Garden / feeling of space
- Distance to train station
- Park outside their own home
- Facilities in the locality
How it has looked this year
This year’s housing market has been difficult to predict with demand increasing but also search criteria changing. Through lockdowns priorities have shifted in terms of size of house and also house configuration. Clients now require the option of two working from home offices or the opportunity to build a home office in a garden room. Clients are also keen to explore more rural locations where they can get more for their money in terms of house and garden size. As we see a decline in regular commuting, clients are preferring a longer drive to the station two or three times a week and being able to enjoy the spoils of grander living as a result. The roads within walking distance of train stations are still popular but the villages on the outskirts of these commuter towns are just as red hot in terms of desirability.
Our thoughts for 2022
As we head into 2022, we are seeing a sharp uptick in corporate relocations which all but dropped off the radar during the height of the pandemic. Companies are now keen to relocate staff for international assignments and we expect this trend to continue. We also expect to see increased pressure in the rental market. We wrote about the shortfall in rental stock during the year Why are there so few rental properties on the market and how do I find a rental? as the market is squeezed due to many reasons. We anticipate that there will continue to be a shortage in rentals as many are keen to move into a rental ahead of buying. As for the sales market we anticipate that demand will stay strong as more and more people are adapting to the new way of working and cherishing their free time that bit more in these uncertain times.
