An office and a garden have overtaken closeness to a station, shops and restaurants when it comes to choosing a new home, according to research commissioned by Wayhome. This could mean continuing opportunities for businesses in the home improvement sector, as homeowners and landlords look to install offices and garden rooms.
Nigel Purves, Wayhome’s chief executive, said: “When narrowing down your search for the perfect home to rent or buy, most of us will have a wish list, usually split into ‘essentials’ and ‘nice-to-haves’. Our report makes clear just how far these wish lists have changed as the pandemic rolled on. In most cases, we’ve seen a complete reversal, with potential renters and homeowners prioritising the things that would make living and working in that space the most comfortable and fit for purpose.”
More than a quarter of respondents said enough room for an office was critical. This proportion rose to 30% for parents (the proportion was 22% for people without children.) Nearly a third of all homeowners and renters wanted more space in general; a quarter indicated that a bigger bedroom was necessary.
More than a third of survey respondents said that access to a private garden had become increasingly important, with over half of those aged 55 rating this as critical. Younger house hunters showed less enthusiasm: 35% of 24 to 42 year olds and 43% of 43 to 54 year olds cited a garden as essential. Just over a fifth of respondents felt that living near a public garden or green space was important.
A quarter of women rated being close to friends and family as important compared with 17% of male respondents. Only 14% said it was key for a property to be close to public transport, with 17% citing an easy commute as vital. Proximity to shops and restaurants was important for 17% of those surveyed.
“With the end of lockdown in sight, now would be an opportune time for the industry to reassess the actual needs of renters and homeowners post-pandemic, and support innovative and alternative routes that get more people onto the property ladder,” added Nigel. Brokers Hank Zarihs Associates has stated that development and property refurbishment finance lenders were keen to back projects with generous living space, given that some element of remote working is likely to continue post-pandemic.
Image credit: Unsplaxh/Tierra Mallorca
