New survey suggests homebuyers could head back to the Essex countryside following coronavirus
PUBLISHED: 17:16 13 July 2020
Priorities for home buyers and sellers will change in light of the experience of Covid-19 and the extended lockdown, with moving intentions, budget, size of property and location all impacted, a new survey from property group Savills suggests
The firm recently surveyed almost 700 registered buyers and sellers at the top end of the market to explore how their attitudes to moving had changed and how that might impact market activity.
Predictions include the potential for a ‘rural renaissance’, with well-connected areas such as Danbury, Great Dunmow, Manningtree, Marks Tey and Writtle likely to be in high demand as buyers split more of their time between home working and the office and want somewhere with plenty of outdoor green space.
‘It is clear that the current crisis has made people think more about the space they live in, the attributes they most value in a home and in some cases, where they want to live, all of which is likely to drive activity as we come out of lockdown,’ says Stephen White, head of residential at Savills Chelmsford.
‘Versatile space has become a prerequisite for those anticipating increased home working and those with children. More outdoor space and access to the countryside are also likely to be of greater importance to parents looking for a new home.’
In line with Savills’ research projections, the survey pointed to a slowdown in activity in the short term, with a recovery later this year and into 2021.