Properties with outdoor space likely to be at a premium following lockdown

Demand for outdoor space is likely to be at a premium after the pandemic lockdown, according to the Q1 rental index from Belvoir.

People are seeking houses more than flats, as compared to Q4 2019 Belvoir offices saw static rents on 50% of houses and an increase on 44%.

Dorian Gonsalves, chief executive of Belvoir, said:

“The Belvoir Q1 rental index was prepared for us by industry expert Kate Faulkner, who began by looking at a breakdown of rental trends by property type.

“The results confirm very different rental trends between flats and houses. Flats are not quite as popular as houses, particularly in areas where there is an oversupply.

“Most offices are predicting increasing demand for properties, with houses being more popular.

“People have experienced the benefits of being able to enjoy an outdoor space during lockdown, or indeed missed out on outside space and demand for properties with gardens is predicted to increase. Demand for HMOs is likely to remain fairly stable or could fall.

“All offices received tenant enquiries during lockdown, with the main reasons being due to a relationship breakdown, a need to downsize, or to obtain more outdoor space. The majority of tenants were looking for two- to three-bedroom properties.“

Kindly shared by Property Wire