Now We’ve Returned To A “New Normal”, How Do Things Stand On The Rental Property Front?
Landlords with rental properties in areas including London have recently faced troubling times. Renters began to move away from built-up areas to small villages and towns during the Covid-19 pandemic, seeing the appeal of a home in a location with fewer people, less crowding, and more green space.
However, now we’ve returned to a “new normal”, how do things stand on the rental property front? Are tenants still avoiding town and city dwelling? Or are they keen to get back to their previous lifestyle with plentiful public transport, cultural attractions, entertainment, and eateries?
Our team at Alter&Cope has been taking note of the changes in the market, and we are ready to share what we’ve discovered.
Flexible Working Practices Have Led To Some People Permanently Turning Their Backs On The Cities
It’s true that some home movers have been happy with their relocation to the countryside from the city. Flexible working arrangements were standard practice for many during the pandemic, and afterwards, a significant number of employees were keen to maintain that flexibility and continue remote working as much as possible.
People who only need to attend their offices part-time, or even who don’t need to go into work at all, have often found it more pleasant to live outside the city where they can enjoy a healthy work/life balance.
Regretting The Move?
While some people are perfectly satisfied with their rural relocation, some are now regretting their move. Once workers were expected to return to their offices, being close to their workplaces became a far more important priority than gaining more space. With this in mind, it isn’t too surprising that an increase of 50% in the number of people keen to move back from very rural areas into areas such as .
Why Are More People Planning To Return To Cities?
A significant majority of people who chose to move away from cities during the early months of the Covid pandemic are now planning to return, and there are several reasons for this. They include:
- Missing their friends and family
- Wanting closer proximity to sports and leisure facilities
- Wishing to socialise following the isolation they endured during the lockdowns
- Missing the faster pace of living in the city
- Feeling disconnected from their old lifestyle
- Wanting a shorter commute to their workplaces
With these reasons in mind, it’s no wonder that letting agents are seeing an increase in demand for apartments to rent in town and city centres.
Good News For City Landlords
If you’re a landlord with a property to rent in London, all of this is good news for you. More tenants are approaching us looking for suitable homes in and around London that they can rent so that they can take advantage of the many amenities the are offers.
Thanks to our years of experience in managing rental properties in London, we’re your top choice of letting agent. Call us today on 02082200820 and learn more about how we can help you find the right tenants to suit your property.
