Although the majority of companies are now operating a hybrid workplace model, with employees having a mix of home working and office working, a recent report has shown that most businesses (almost 70%) expect to be promoting a more regular return to the office by the middle of this year.
What impact will this have on housing trends?
The pandemic certainly impacted the way we interact with where we live, resulting in people reassessing how adequately their home met their needs, especially with the huge increase in working from home. More and more people started to work from home – a recent survey found that 60% of Britain’s workforce worked remotely during the first lockdown – stimulating a trend in buyers’ preferences for more spacious properties outside of city centres.
People have seen the other side of the fence now and appreciate the work / life balance even more so. Buyers continue to be drawn towards properties with both indoor and outdoor space, with decent garden space becoming more of a priority. Additionally, with home working, buyers are looking for available space for a home office – whether a dedicated space inside the house or an outbuilding or garden office pod. A recent report showed that potential space for a dedicated home office has risen in importance for 27% of homeowners.
Despite the return to the office, better quality of life and cost of living are key priorities for housebuyers now. As people continue to have more flexible work opportunities, the property market will keep seeing a constant shift with people reassessing how adequately their current home meets their needs combined with confidence fiscally to make a decision to move home to suit their new lifestyle.