‘Rural renaissance’ predicted as prime house hunters consider moving to villages
I fear that this will lead to rising house prices and less affordable housing for those of modest means in rural England. This story tells us:
Many house hunters at the top end of the property market say having a dedicated space to work from home has become a bigger priority, a survey has found.
The research also suggests more prospective buyers could be expanding their searches to look for well-connected village locations where they can split their working week between home and their office.
Savills surveyed nearly 700 registered buyers and sellers in the prime property market between April 21 and 27 to find out how their attitudes to moving have changed during the coronavirus crisis.
The prime property market generally includes the top 5% to 10% of homes by value, depending on where properties are located in the UK.
Some 49% of those surveyed said they will be more inclined to work from home even after lockdown restrictions are lifted.
As a consequence 44% said a separate work space has become more important, rising to 61% of under-40s. Savills said good access to Wi-Fi is also becoming more valued, with 48% saying its availability is now more important.
“It is clear that the current crisis has made people think more about the space they live in, the attributes they most value in a home and in some cases, where they want to live, all of which is likely to drive activity at the top end of the market as we come out of lockdown,” said Lucian Cook, Savills head of residential research.