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TODAY'S OTHER NEWS

What are renters currently looking for in their next home?

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. 

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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%

  • icon

    My new tenants reasons were mainly to get away from anti social neighbours they had to put up with in lockdown as well as couples splitting up.

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    I've just gained 2 new tenants due to partnership break ups, expect there will be lots of them

     
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