At Stones Residential, we take immense pride at being active in local communities. We love the areas we operate in, and we are on hand to help homeowners connect with buyers, and sell their home.
We know the past year has been challenging for many reasons, but there is still considerable activity in and around the London housing market. If you need any guidance over a move, please get in touch, and we will be more than happy to assist you.
House moved are happening in and out of London
A survey carried out by SpareRoom spoke to more than 12,000 users of the platform. 40% of respondents said they plan on moving home post-lockdown, with 38% of respondents who live in London stating their desire to move house after the lockdown.
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76% of respondents said they intend to move out of their current town or city.
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77% of respondents from London say they plan to leave the capital entirely.
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For the first quarter of 2021, the level of demand v supply for London was down by 23% compared to the 2020 figure.
Matt Hutchinson, SpareRoom director comments: “Over the past year we’ve seen the effect Covid-19 had on London rents, with averages falling consistently in four consecutive quarters. That's driven largely by a drop in demand compared to supply, as renters left the capital during lockdown. At the same time, rents have risen slightly in the rest of the UK.”
Matt continued by saying; “As the country starts to open up more over the coming weeks and months, we'll see pent up demand being released. We'll also see the return of jobs in sectors like entertainment, hospitality and tourism, which London relies so heavily on. Whether that means a mass return to the capital, or whether some of those who left won't return remains to be seen. But we do expect things to shift over the summer.”
Why have people moved home?
Yes Homebuyers surveyed 1,059 property buyers, who have completed their move in the last six months, and asked them what their primary reason for moving out of their last home. The findings will be of interest to many people in the housing industry, and for people looking to move home soon.
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46% of respondents cited a lack of space, either indoor or outdoor, as the reason to look for a new home
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28% of respondents blamed messy or noisy neighbours as the key driver for their desire to move to a new house
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9% of respondents cited expensive maintenance and costs as a factor which led to them moving home
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7% of respondents cited the property being in need of modernisation as the crucial component in why they moved home
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Issues regarding the wider area, such as high crime rates, were cited by 7%
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A lack of suitable amenities, including good schools, was only cited by 3%
If you would like to arrange an appointment to help you negotiate the local housing market, please contact Stones Residential today by calling us on 020 7483 0685 or emailing belsizepark@stonesresidential.co.uk.
