While many industry observers believe demand for property will reduce in 2021, there will always be reasons for people to move home. At Thomas Morris, we work closely with buyers and vendors.
This position ensures we know why people are looking to move home. We also stay in touch with the latest news and information relating to the national housing market.
Sadly, relationship changes look set to be a significant factor in property moves this year.
This has been a challenging time for many people
Yes Homebuyers conducted a survey which outlines the reasons why people are moving home:
Divorce or end of a relationship cited by 23% of respondents
Relocating for personal reasons said by 21% of respondents
A desire to have more space was said by 19% of respondents
11% of respondents said they were relocating for work reasons
Has the pandemic negatively impacted many relationships?
Sadly, there is a strong chance the pandemic has negatively impacted many people’s relationships in the past year. With people working remotely, and not encouraged to socialise outside their bubble, many couples and households have spent a lot of additional time with each other.
With the stress of the current situation, and with many households experiencing greater financial hardship, it is no surprise to learn many households have reached a breaking point.
The same study also suggests searches for divorce guidance have increased by 25% due to COVID-19, and enquiries with divorce specialists have risen by 122%.
Other findings include:
57% of people say leaving their home was more upsetting than ending a relationship
Only 25% of movers have been forced to leave a property they would have preferred to stay in
The pandemic has also driven change in the housing market
It is also important to recognise that dealing with the pandemic has led many people to decide it is best to move home. Some of the other reasons for a property move include:
11% of people said they were moving for financial reasons
6% of respondents said they were downsizing to a more manageable property
2% of people were moving after getting married
Matthew Cooper, Founder & Managing Director of Yes Homebuyers, commented: “There are a number of key life events that cause us to move home and unfortunately, divorce is one of them. We’ve seen a number of reports around a spike in divorce proceedings and breakups due to the additional stress placed on relationships during lockdown. So it’s no surprise that it ranks as the driving factor for home moves at present with Covid causing restrictions in other areas of life such as marriage and relocating for work. For some, a breakup will mean a double whammy of leaving their partner and a home they love, but luckily the number of us forced to leave a property we would prefer to stay in remains rather low. However, it says a lot about us as a nation of bricks and mortar lovers when having to leave a home is more upsetting than leaving the person we shared it with.”
If you would like to arrange a valuation of your home, even in these challenging times, we can provide this service. We can currently provide a range of safe property market services, aimed at helping you make an informed move.
If you are looking for help with any matter of the property or lettings market, it is best to speak to property professionals. You can book a sales or rental valuation appointment directly on line at a time and date of your choice by clicking here or alternatively click here for individual branch contact details.