It is fair to say 2020 was a year like no other, and this was reflected in the housing market.
The end of the year was a strong time for the property market, but there was also a period earlier in the year when the market was placed on hold. So, there were a lot of ups and downs.
There was also a lot of fresh challenges, which changed the way people evaluate what is important to them. The lockdown periods saw many people spend a lot more time at home, and this has resulted in a shift in what prospective house buyers deem important in a property.
What matters to you in a home?
Information provided by Good Move offers insight into what buyers were looking for, and how this differs from previous years.
The searches which experienced the highest growth compared to the previous year are as follows:
- Apartment with balcony (147%)
- Apartment with hot tub (139%)
- House with tennis court (127%)
- House with swimming pool (109%)
- House with driveway (107%)
The rise in searches for a balcony shows how important fresh air and privacy are for people!
Functional searches matter in the new normal
Other increases worth paying attention to are functional searches. There was a 106% increase in searches for a driveway, a 101% increase with respect to conservatories and there was a 77% increase in searches for a double garage.
Where were people searching for homes?
There was a lot made of people leaving London, and we have experienced an uplift in demand for homes in and around Petersfield.
The following list shows some of the most notable uplifts in property searches:
- A 73% increase in searches for houses for sale in Buckinghamshire
- There was a 72% rise in searches for houses for sale in Berkshire
- West Yorkshire experienced a 69% increase in house searches
- There was a 61% rise in searches for homes in Hertfordshire
- Surrey experienced a 59% rise in searches for houses for sale
Nima Ghasri, Director at Good Move, comments: “Against all odds, this year has positively impacted the UK housing market and completely transformed the way buyers and sellers look at properties. More and more people are moving away from flats and apartments and into homes with outdoor space, and we’ve also seen many people looking to move away from cities into more rural areas.”
Nima Ghasri also said; “As we approach the New Year, we wanted to look back on the year in property search and reveal what potential buyers were actually looking for this year. It’s interesting to see that they have been searching for more luxurious features such as a swimming pool and tennis court, no doubt due to the increase of time spent at home and leisure facilities closing due to the pandemic. It’s also fascinating to see the areas where people are searching for properties the most, with South-East and Northern England the two hotspots. As we move into 2021, we look forward to seeing how the property market adapts to buyer’s needs.”
At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.