COVID has definitely brought about changes in the property market. Houses in our rural village are being quickly snapped up, much faster than usual. With people being able to now work remotely there has been a real shift away from the cities. Many seem to want a bolt hole to get away from highly populated areas, which seem safer in these unprecedented times.

Priorities Changing

COVID really has had a huge impact on property markets. Not only because some people can now work anywhere in the country. Being stuck in our properties for so long throughout lockdown has made many of us question whether we have the right home for our needs. What was important property wise before seems to have shifted! If you are going to be restricted to your house available space or a nice garden becomes more important than locality to your office. Features like a home office will also become more desirable.

We are always daydreaming about properties. Ours is a lovely house but it still needs so much work. I routinely look at Rightmove to see what new properties have been listed in our area or even slightly further afield. I also use this mortgage calculator to make sure we could afford the monthly payments on a bigger mortgage. However I am not after a bigger house, I just want a finished house. If we have to face lockdown again it would be nice to do so in a house that is comfortable to live in. A property that is fully decorated and warm and cosy.

Access To The Countryside

Currently you might find rural properties more affordable but as the shift continues and demand increases that will raise the prices of property where we live as people want access to the countryside. So, if you are planning on buying a property its probably advisable to move quickly.

I was shocked recently to see the price a house near us is currently listed at. Admittedly they have done a lot of work and the inside of the property does look beautiful. However, the huge leap in price might have more to do with the current property market shift for it to be fully justified. If you live rurally with a good-sized garden and had been considering selling your house now might be the time. I am curious to see if the property will get its asking price, we shall see.

House Value

Back in 2018 our house value had gone up by £36,000 according to online tools. Now it is saying £125,000! Depending where you live you might be pleasantly surprised right now. A site like Zoopla will give you a rough estimate based on the price of houses selling in your area. So, I have my fingers tightly crossed that the house I mentioned previously does get its asking price to drive up the value of the other houses where we live.

Retail Properties

It’s not just residential properties that are being impacted by COVID. The surge in online shopping is impacting the retail property market. Landlords are losing out as high street shops are closing. Similarly, office blocks are not as highly sought after with so many people now working from home. These properties will have adapt and find new uses.