The
Biggest Property Trends of 2020

In this three-minute read, we look at the key themes
that emerged in the UK property market in 2020.

2020
is the year things went nuts in the property sector, with activity in Mid
Kent and the rest of the country screeching to an abrupt halt for
several weeks, before blasting back into action as buyers emerged from lockdown
with a new set of priorities.

Here
are four talking points from the year.

1.
Race for space

Lockdown
1 served as a turning point for many people who, after spending months cooped
up with their nearest and dearest, decided that it was time to get out of town.
Demand for homes in places like Central London dropped and interest in country
and coastal properties spiked.

Many
of those heading for the hills and beaches were families looking to upscale to
a home with a bigger garden, more bedrooms, and easy access to the great
outdoors.

The
super-rich got in on the act too, with Savills selling at least 21 rural
estates each valued at £15m plus.

2.
Working from home/end of the commute

2020
is the year working from home (or WFH if you like acronyms) went mainstream.
Covid-19 meant that bosses who suspected staff would bunk off if they weren’t
in the office had to embrace WFH. What did they discover?

Many
were surprised to find that productivity didn’t nose-dive; in fact, some workers
got more done. Meanwhile, employees gleefully ditched the commute and spent
more time doing the things they love at home.

As a
result, enquiries from people looking for properties with dedicated office
space or bedrooms that could serve as a home office increased.

3.
Outdoor space

Even
buyers who didn’t want to hotfoot it to the countryside, wanted outdoor space,
be it a courtyard, a roof terrace or access to a communal garden.

In May,
Rightmove reported searches for homes with gardens increased by 42% – a trend
that has stayed strong.

4.
Resilience

When
the market shut down in March, many predicted the consequences would be dire.
It certainly was challenging for the industry, but the market has proved to be
incredibly resilient.

At
the start of December, property prices in the UK were growing at their fastest
rate since 2016. The average cost of a UK home rose by 6.5% this year (figures:
Nationwide).

What’s
in store for 2021?

As the
Covid-19 vaccine rollout gathers pace, things might return to ‘normal’ in some
ways, but it’s unlikely that they will go back to what they once were.

That
doesn’t necessarily mean the end of office-working, but a less rigid approach
to the way we work seems here to stay.

As a
result, many property experts predict demand in prime outer London and regional
markets will continue in 2021.

Here
at CWB Property, we’re proud to have nearly made
it through 2020. We’re a little bit older, wiser, and looking forward to serving
the people of Mid Kent in 2021.