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What are home buyers looking for in 2020?

Post lockdown, what has everyone got at the top of their wish list?

What are home buyers looking for in 2020?

As we slowly emerge from lockdown, spending far too much time at home, and as people get into the groove of home buying and selling again, has what home buyers are looking for changed? Early signs suggest yes, and here’s how.

According to a Rightmove survey earlier this month of more than 4,000 home-movers, more than one third of buyers (39%) in the market have altered their priorities post-lockdown. 

Bigger homes, with garden and office

The things lockdown has impacted most are:

  • wanting a bigger garden or at least access to one (63%)
  • wanting to live in a bigger home (43%)
  • access to parking space/ garage (36%)
  • a better home workspace (36%)
  • live closer to parks and green spaces (31%)
  • want to live in a rural area (30%)

Searches by buyers for homes with gardens are up 42% in May compared to May 2019, and for renters they’re up a massive 84%.

If you’re a buyer reading this and nodding, you can expect to have some competition so make sure you have your Rightmove, Zoopla and OnTheMarket property alerts switched on.

If you’re thinking of selling and don’t have a huge house and garden, fear not. Whether you’ve got a small patch of grass or access to a communal garden, it’s time to spruce them up and feature them proudly on your property listing. Or if you have access to great local parks, don’t forget to shout about them.

See how much you can afford to borrow with expert fee-free mortgage brokers at L&C

What if you can’t work remotely?

While the above stats aren’t all that surprising, it did make us wonder what this means for towns ands cities. Our urban areas are established hubs for education, culture, corporations and investment and will surely continue to draw homebuyers.

This week’s London Evening Standard has shed some light with news that first-time buyers and single professionals are topping the list of those trying to get on the ladder close to the main employment districts in the Capital.

Across its 70 branches, London estate agents Dexters has reported a threefold increase in registrations of buyers looking for a home in central London since the lockdown, compared to the same time last year.

This shows that many buyers feel there is a limit to working from home.

Jeff Doble, chairman of the group, said “These buyers believe there is a limit to working from home. They want to be able to cycle or walk to work, with limited time on public transport as we live in fear of further contagion.”

 


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