top of page

How Coronavirus Has Radically Changed the Priorities of Homebuyers

  • Writer: Mortgage Tree
    Mortgage Tree
  • Apr 6, 2021
  • 2 min read

Article by UK Property Finance




COVID-19 (and three consecutive national lockdowns) have had a major impact on the lives of each and every person in the United Kingdom. In particular, real estate market activity has illustrated how thousands of movers and first-time buyers have completely changed their priorities, with regard to preferred property types and locations.

According to the latest figures from Rightmove, London has been overtaken by Cornwall for the first time as the UK’s most desirable location for residential properties. Devon has also been propelled in the rankings to third, while Dorset now sits in 10th position having previously ranked 20th.

The findings come as no surprise to the vast majority of UK estate agents, which throughout the pandemic noted a major spike in interest in rural homes, countryside properties and larger residential dwellings with gardens.

Interest in city centre apartments and urban homes with convenient good transport connections has been diminishing throughout the COVID-19 crisis, as the UK gets used to a new era of working from home and spending more time than ever, indoors.


A Larger Home A Priority for Buyers


The figures released by Rightmove suggest that sales of larger homes are accelerating significantly across the country, resulting in a major shortage in inventory in some locations.

For example, five-bedroom detached home sales have increased by as much as 38% over the past year, compared to the 15% increase in sales volumes for four-bedroom flats. Five-bedroom and four-bedroom bungalows have also skyrocketed in popularity, achieving 22% and 20% growth, respectively.

Meanwhile, private renters are likewise setting their sights on entirely different rental properties, predominantly away from busy urban centres. Two-bedroom and one-bedroom flats were the most sought-after rental property types in February last year, this year it is two-bedroom semi-detached and detached houses that have topped the rankings.

“More space has always been the most common reason for people moving home, but the evolution for many from balancing their laptop on the end of a bed last March to making an office a permanent addition to a home has led to a need for even bigger homes than before,” commented Rightmove’s director of property data Tim Bannister.


Estate Agents Expects a Gradual Return to Normality


The lingering effects of the COVID-19 pandemic could result in a permanent or semi-permanent alteration to the priorities of buyers and movers across the United Kingdom, however, many estate agents believe that the current shift in interest will gradually wane, ultimately paving the way for a slow return to normality.

This is attributed to the fact that record demand for certain property types in desirable areas of the country is already resulting in major property price increases. Average house prices in regions once considered less desirable than their central urban counterparts are predicted to skyrocket, effectively pricing many movers out, at which point, it is inevitable that many will once again have no choice but to set their sights on more affordable urban dwellings, at least partially reversing the mass exodus away from central city living.

 
 
 

Kommentarer


Sign Up To Our Newsletter

Stay Connected...

Our Address...

Mortgage Tree

Blake House

18 Blake St

York

YO1 8QG

01904 263012

Mortgage Tree - Mortgage Advisors York - Services & Standards

Mortgage Tree offers a nationwide mortgage broking service from our base near York, North Yorkshire. We specialise in mortgages and insurance. Whether you are a first time buyer or you are a buy to let investor with multiple properties, Mortgage Tree will ensure that you get the most suitable products available.

We are a Whole Of Market broker which means that we will choose the most suitable mortgage for you from the hundreds available on the UK mortgage market. Our network also gets specially discounted deals from lenders which are available to our network.

 

We also provide insurance cover that will give you & your loved ones a blanket of protection that is so vital. We will endeavour to give you the best service that we can at all times.

Jason Gentles t/a Mortgage Tree  (FCA No. 502275) is an appointed representative of Julian Harris Mortgages Ltd (FCA No. 304155), which is authorised and regulated by the Financial Conduct Authority.

The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk

Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Please note that some mortgages such as commercial BTLs are not regulated by the FCA.

The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.

© 2025 Mortgage Tree  |  Web Design by Studio.END

bottom of page