As more residents of the UK have learnt to appreciate the importance of space and the outdoors following months of lockdown, many city-workers are seeking commuter towns outside of London, with easy access into the city and the benefit of more space.
With just over 32 weeks of the stamp duty holiday left, and with the average property taking 18 weeks to sell, vendors have 14 weeks to list their properties if they want to make the most of the stamp duty holiday.
The lockdown rules have left us, quite literally, staring at walls as we adjust to spending more time than ever in our homes, leading to DIY explosion around the U.K.
Since 27 March, all new and existing possession proceedings against residential tenants have been stayed. Initially the stay was brought in for a period of 90 days, however, the Government announcement in June that the stay would be extended until 23 August 2020.
The gradual lifting of lockdown has meant that a portion of the UK population are returning to their offices with many of us keen to avoid public transport as much as we can.
Covid-19 may cause a reduction in the number of overseas students at UK universities in the academic year 2020/21. A drop may cause landlords to compete for a smaller rental pool in some regions.
Mortgage products are returning following a collapse in availability during lockdown. 77% of mortgage brokers expect lending to return to pre-pandemic levels within nine months.
In 2019 only 5% of the UK workforce worked mainly from home and less than 30% of total workforce had even tried it. This is going to have changed dramatically since the Covid-19 lockdown.
The housing market may be quieter but there has been a huge increase in spending in the DIY/home improvement market, according to GfK, as many of us take this time to do projects in our homes.
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