It is fair to say 2020 has been a year like no other. As we move towards 2021, most people will want to look forward.
However, there have been some significant changes in the property market, and in buyer behaviour. Anyone looking to achieve success in the property market next year will do well to familiarise themselves with what buyers have looked for in 2020.
What have been the most important factors in the 2020 UK housing market?
The key factors which have shaped the 2020 housing market are:
Stamp duty holiday
While COVID-19 is the most important factor, it is likely the lockdown period which has shaped buyer intent the most. At this time, with people spending a lot more of their time at home, they would have considered their surroundings.
It would have been natural for people to yearn for more space at this time, which is seen in the demand for larger homes.
It would also have been natural for people to desire an outdoor space where they could safely spend their time. This could be in the shape of a garden or a nearby open area or park, but there is no denying the lockdown has made people appreciate having a space to exercise, socialise and relax outdoors.
Of course, work will always be vital when it comes to people’s living arrangements. However, with remote working, people have experienced greater freedom between home and work than they have ever experienced before.
It is likely remote working will remain in place for some time, and for many people, it will be a permanent feature for the rest of their working life.
Therefore, it is likely to be a constant factor for people looking for property.
Buyers’ top 10 most-searched terms
The top 10 most-searched for terms from buyers in 2020, according to Zoopla, is as follows:
The top 10 most-searched for terms from buyers in 2019, according to Zoopla, is as follows:
The top three remain the same, even if the order has changed. With garage and parking both featuring in the top three, space is crucial, but in 2020, the need for garden space is the most important search term.
The two new search terms in the Top 10 are secluded and bungalow. Again, this is not surprising given how 2020 has panned out.
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