Why People Are Still Moving Home?

Wed 05 May 2021

Given the level of activity in the housing market since last summer, you would be forgiven for thinking demand would peter out soon. Many industry experts have tipped the activity to stop, but it continues, as people remain keen to buy homes.

At ADM Residential, we have seen this locally.

With lockdown over once again, it is likely many people are keen to do things they have been unable to for some time. You only have to look at the demand for shops, hairdressing salons and pubs to see people have missed out on many things in life, and that they want to enjoy those things once again.

We also stay in touch with national studies, and people want to move home for many reasons.

A survey of 2,000 households, conducted by a property developer called Romal Capital found some interesting responses that suggest many people will look to move home:

• 31% of respondents say they expect to change their living arrangements after living through lockdowns and working remotely.

• Normally, between 4% and 5% of households move home in any year.

• For the age group between 25 and 34, 32% said they expect to move.

• For people aged 60 or over, 28% said they intend to move.

• 20% of respondents say they plan on moving within the next three months.

Remote working remains an issue in people’s minds

With respect to remote working, the following responses were made:

• 26% of respondents say they plan to relocate due to being able to work from home, or at least be able to combine remote working with occasional office work.

• 26% of respondents said that even with remote working possibilities, there is a need for suitable jobs to be available in the local area.

What matters most to buyers?

Whether you plan on buying or selling property, it is helpful to know what buyers are looking for. If you plan on selling property in Huddersfield, we help you connect with likely buyers.

The survey highlighted these elements which buyers deem important:

• 29% of respondents said a good standard of living is the most crucial factor in deciding where they should next live.

• 23% of respondents said road networks and connectivity are vital, which suggest that a fully remote lifestyle is not ideal for most people.

• 10% of respondents said they are keen to live in an area which is likely to increase in value

• 9% of respondents said living close to hospitals was important.

Greg Malouf, Romal Capital’s CEO, comments: “We’re seeing a paradigm shift in how this country wants to live and work. Hybrid working options and lifestyle changes are two key elements driving this change in behaviour. Moreover, the temporary stamp duty holiday and the desire to cash in on significant property price increases in 2021 have also empowered decision making. In fact, in the same period a 16% property price-hike in Liverpool alone, underlines this very bullish market.”

Greg concluded by saying; “The current UK housing market simply does not match this new reality, and with these changing demands, needs to be a country-wide rethink on meeting housing needs.”

If you are selling your Huddersfield home, contact us today. You can book a valuation or just chat about how we make a difference in selling your home. Of all the estate agents Huddersfield vendors can call on, we like to think we make a difference in selling local homes, so contact ADM Residential today.