Mon 27 Sep 2021
Paul Bennett, Director
There’s nothing quite like the results of a freshly-conducted survey to get the London property market talking and here at Behr & Butchoff, the team have been pouring over details of a new poll among Londoners.
Property portal Rightmove questioned the capital’s residents on what a ‘dream property’ meant to them post pandemic. When asked about what shops should be local to their dream property, those in London listed Waitrose as the preferred supermarket to have nearby, while the rest of the country opted for a branch of Tesco.
The divide was also marked when asked about essential local amenities where they live. Londoners nominated a food market as their top local amenity, followed by a coffee shop and a corner shop.
While it is true some Londoners are busy researching branches of Waitrose in the West End or weekly farmers’ markets in North West London when planning their next move, the Rightmove research revealed how drastically Covid has affected the property wish list in terms of property styles and locations.
The survey found a Londoner’s dream home is now a four-bedroom detached house in a coastal village. As for the inside, it must have four bedrooms, two living rooms and two bathrooms. When asked about the extra rooms they most desired, respondents listed a garage as the most important, followed by a utility/boot room and a home office.
Before there’s any talk about another mass exodus from London, emphasis has to be on the ‘dream’ side of the statistics. For many, a move to the coast is a plan for the future or a possibility only if the stars align.
One barrier is cost – with the Halifax reporting that the average price of a property in a British seaside town has risen 10% over the last 12 months. In terms of budgets, buyers looking at the very best seaside towns of Salcombe in Devon and Sandbanks in Dorset will need to find almost £1 million for an average house.
As well as more businesses recalling employees to their London desks (staff at big hitters from Google to Goldman Sachs are back at the office on at least a flexi basis), the return of international buyers from China, Hong Kong and the Middle East, and the resurgence of London as a lifestyle destination, there’s more than ever to keep people in the capital.
If you’re staying in London but shifting priorities mean you are looking for more space, or you would prefer a house with a garden to an apartment, let Behr & Butchoff help. Not only can we find your next home, we can sell your current property too.
And if you’re set on making your ‘dream’ property a reality – we can set you on the coastal path – Bamburgh, Rye or Southwold, perhaps - by providing you with a property valuation and the expert skills of our sales team. We’d love to hear your property plans, so get in touch.