Landlords anticipating demand as pandemic ensues.

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Data recently published by The Mortgage Lender showed that one in five homeowners believe that demand for more space due to lockdown and homework will take tenants from urban areas to the country.

According to a OnePoll study in July this year, 35% of landlords had changed their minds about what type of tenants they would find attractive in the future because of the pandemic.

And there is already evidence of this change according to the latest rental market report identified by Zoopla, which identifies a two-speed rental market between London and the rest of the country with an imbalance in supply/demand that supports positive rental growth in all regions and large cities outside London.

It expects rental inflation outside London to end the year by 1% compared to the previous year, while in London rents are expected to fall by 5%.

What did a panel of owners say:

"Multigenerational and rural properties will be demanded. There will be a movement of cities and big cities. The value of rural real estate may increase or remain stable and urban values may fall. I think prices will rise in areas outside the cities. "It increases those who have gardens in the countryside." People will leave parts of London and the rental market will change. "Outdoor properties are becoming increasingly popular and rents are increasing.

Steve Griffiths, sales manager for the mortgage lender, said: "No one really knows how COVID-19 will affect where people want to live in the future, but we know that many large employers with leading london offices will already work from home for the rest of this year.

"We know that we are not building enough new homes in the UK to meet demand and that high-quality rental properties will remain desirable."

 

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