Half of renters currently in the market say lockdown has impacted what they are looking for in their next home.
A new study from property website Rightmove reveals that what 49% of renters are primarily looking for in their next home has changed in recent months.
Using both site data and a survey of over 4,000 home-movers, the research found that studio flats have been replaced with two-bedroom houses as the most sought after property type, reflecting the fact that a bigger garden or access to a garden is now the biggest change in terms of tenant demand.
Searches for homes with gardens on Rightmove were up 84% in May compared to the same month last year.
Just over a quarter – 26% – of renters want a better home workspace, while good internet and a spare room are now higher up on wish-lists, but commuting times and transport links are less important.
Rightmove housing market analyst Miles Shipside commented: “The housing market has been open in England for a few weeks now and as always the picture is very different depending on the local area, with some agents rushed off their feet with offers going over the asking price and others moving at a slower pace.”
Since the market reopened activity has been surging, with both visits and time spent on Rightmove both hitting a new record on Wednesday 3rd June, with over seven million visits.
Comparing the start of the year with May and also with the same month last year, all types of flat are now gone from the top five.
Shipside added: “Traffic on Rightmove has hit its highest ever level with many starting out on a new journey towards their next home and a change in lifestyle, which could come with a very different wish-list to the one they had a few months ago.
“During lockdown people have been re-evaluating what their must-haves are, and both buyers and renters are craving a home with its own outside space rather than a flat. It will be fascinating to see how the trends unfold over the course of the rest of the year.”
Most sought after property type May 2019 |
Most sought after property type January 2020 |
Most sought after property type May 2020 |
BUYERS |
||
One bed house |
Three bed house |
Three bed house |
Two bed house |
Two bed house |
Two bed house |
Three bed house |
Three bed flat |
One bed house |
Three bed flat |
One bed house |
Four bed house |
One bed flat |
Two bed flat |
Six bed house |
RENTERS |
||
Two bed house |
Studio flat |
Two bed house |
Studio flat |
Two bed house |
Two bed bungalow |
One bed house |
One bed house |
Three bed house |
Three bed house |
Three bed house |
One bed house |
Two bed bungalow |
One bed flat |
Three bed bungalow |
Buyers
|
Renters |
||
Change to what they now want in their next home |
% |
Change to what they want now in their next home |
% |
Bigger garden or access to one |
63% |
Bigger garden or access to one |
59% |
A bigger home |
43% |
A bigger home |
41% |
Access to a parking space or garage |
36% |
Live in a pet-friendly home |
29% |
A better home workspace |
36% |
Live closer to parks & green spaces |
27% |
Live closer to parks & green spaces |
31% |
Access to a parking space or garage |
27% |
Want to live in a rural area |
30% |
A better home workspace |
26% |
Live closer to friends & family |
24% |
Live closer to friends & family |
19% |
Live in a pet-friendly home |
22% |
Live closer to essential local services |
16% |
Live closer to non-essential amenities |
15% |
Live closer to non-essential amenities |
15% |
Live closer to essential local services |
13% |
Live closer to work |
13% |
Live closer to work |
8% |
Want to live in a rural area |
13% |
Half of the people surveyed – 49% – said they are currently working from home. Of those, 21% said they would like to work from home permanently, and 55% said they would like to work from home more but still occasionally go in to work.
The study indicates an interest in a transition towards more frequent home working, which could lead to a shift in what people prioritise in their search for a home. Good internet and a spare room are now becoming more important and transport links less important.
Attributes now more important
|
Attributes now less important |
Good internet at home |
Commuting time from the workplace |
A spare room |
Transport links nearby |
The size of the home |
Non-essential amenities available nearby |
The study shows that buyers are more likely than renters to make the move to the countryside, with almost one-third of buyers – 30% – saying the lockdown has now made them want to live in a rural area, versus 13% of renters.
Community and life interests
Over half of people surveyed – 57% – said they feel there is now a stronger sense of community in their local area than before lockdown, something that we know from previous reports affects how happy people are living in an area.
The new life interests that people say they plan to continue doing after lockdown could also affect what they look for and which location they choose for their next home. The three activities that people are most likely to continue doing in the future are exercising outdoors, reading and gardening.
Growth in activity since lockdown
|
Plan to continue doing in the future |
||
Exercising at home |
36% |
Exercising outdoors |
89% |
Arts and crafts |
21% |
Reading |
82% |
DIY |
17% |
Gardening outdoors |
82% |
Gardening indoors |
19% |
Cooking / baking |
78% |
Gardening outdoors |
15% |
Watching movies and TV shows |
74% |
Cooking / baking |
12% |
Arts and crafts |
71% |