People leaving the city to safe haven countryside
The rental market in the UK is busy as an emerging trend of people leaving the city for the safer haven in the countryside rises according to Guy Meacock, director of buying agency Prime Purchase.
Meacock outlines that the situation with Coronavirus is changing so rapidly that we are almost taking it on an hourly basis.
He notes that viewings are being cancelled in London, and the positive feeling the ‘Boris Bounce’ brought has left.
Meacock believes that activity may be on ice until the autumn when there will hopefully be more clarity.
However, Meacock said that the property market is currently safer than the stock market, which he highlights is free falling.
Breaking the housing market down, Meacock outlines the high-end market as the most affected due to international clients being unable to travel to view properties.
As a result of self- isolation, Meacock believes that this may change the way we view our homes. He said: “How important is it to have space where you can work? Interior designers and decorators are likely to be busy after all this as people reconfigure their homes and how they live.”
Meacock concludes: “The coronavirus may lead to a change in how we market our homes, with the question being: how do I get fewer people through my door but make sure they are better quality?
“Vendors clearly don’t want a load of unknown people traipsing through their home so there may be a move towards far more discreet advertising of property from those who still need to sell.
“A boutique approach through retained agents, rather than openly marketing it to every Tom, Dick and Harry, makes sense.”