| | UK buyers look for post-coronvirus home comforts in the Home Counties
While the coronavirus pandemic has impacted the whole real estate industry to a greater or lesser degree, the residential sector has been hit particularly hard. But with UK estate agents now open for business again, there is at least some light at the end of the tunnel for sellers, buyers and housebuilders.
Weston Homes, which currently has some 7,000 new homes with a GDV of GBP3 billion under development, has reported a ‘flood’ of reservations at its development sites across the South East. And in early signs of what could be a ‘new normal’ for the residential property market, the company is seeing a big increase in enquiries from buyers looking to relocate from inner London to the Home Counties. As ever, the desire for more space – both indoor and outdoor – is sure to be a factor, but with millions having spent weeks working from home during lockdown, perhaps remote working is now being seen as realistic alternative to the daily commute?
The smoke though, hasn't lost its appeal completely, at least not as far as Wetherell is concerned, with the agency predicting a V-shaped recovery in the prime Mayfair property market. Wetherell's Q1 2020 analysis shows that while the Covid-19 pandemic saw a huge slow-down in second-hand sales and an increase in failed deals, the post-lockdown recovery is likely to be led by the new homes and lettings sectors.
Staying with the Mayfair property market – and the post-pandemic theme – we also have news of a new 'Covid-safe' mixed use development which has been given the green light by Westminster City Council.
The GBP40 million (GDV) 10,000 sq ft scheme from London and Monaco-based property company REDD, features Covid-safeguarding and home-working features, including 'no-touch' lifts, contactless access fobs and voice recognition systems, and home offices designed to accommodate professional workstations rather then just laptops.
Property Funds World
| | | | | | | | Wetherell forecasts 'V' shaped recovery in Mayfair as London housing market restarts | | Thu | 11 Jun 2020, 11:59 | | Wetherell is forecasting that there will be a ‘V’ shaped recovery in the Mayfair property market as the London housing market restarts, with the agency’s Q1 2020 analysis showing that the coronavirus (Covid-19) pandemic has realigned the Mayfair market, with second-hand sales paused and fall throughs up during the lockdown. The post-lockdown market is likely to be led by the new homes and lettings sectors. |
| | | | | | | | | | | | Shared office spaces tentatively reopen | | Thu | 11 Jun 2020, 11:59 | | Serviced office managers across the country have been working flat out to reopen their offices during June, installing facilities to protect clients and help them get back to business. |
| | | | | | | | Altera joins UN Global Compact | | Thu | 11 Jun 2020, 11:59 | | Altera has become the first Dutch institutional real estate investor to join the UN Global Compact, in line with the company’s commitment to socially responsible investment. |
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