The interesting changes in demand for housing

Finefair Ltd is one of the leading experts when it comes to working with local authorities across London. Our goal is to help each landlord to arrange a service that gives them assurances on their rent. If you have any concerns about things like non-payment, voids, or handling your responsibilities, this could be the solution for you. As the top name for council leasing South London has, anyone with an interest can ask us for help.

Demand changes

Council leasing South LondonWe have already written several articles in the past about how coronavirus has driven a change in what people are looking for in a home. There are still many interesting things to look at here though.

One thing to note is the increase in demand for garages. According to Rightmove, it was the most frequent search term on their website in the last nine months. While some people still want a home with a garage to safely park their car, a lot of others are eyeing the space for different uses. For example garages could become home offices, gyms, or even workshops or art studios. Altering the space would create somewhere people could use to work from home, exercise, or enjoy their hobbies more comfortably.

Rightmove has also been looking into what types of properties have seen the highest demand in the last year. Buyers are favouring large detached homes, resulting in a 38% rise in demand for 5 bed houses and 26% for 4 bed. Semi-detached homes saw an increase too, up by 24% for 5 bed and 20% for 4 bed. There was even a boost in demand for bungalows, including 22% and 20% for 5 and 4 bed respectively.

There have been changes in rental demands over the period too. According to the date, the most popular type of property from February 2020 was a two bed flat. Fast forward to February 2021 and two bed detached homes had taken the top spot. Flats were no longer in the top five.

What could happen in London?

guaranteed rent City of LondonWhile the changes in demand have been dramatic, many experts are forecasting a return to normal in the future. One thing in particular they expect is a return to London. Last year it almost felt like a full exodus from the city. In fact, the numbers show a dramatic increase in the number of people moving to the South West. This made places like Cornwall and Devon the most sought after.

The number of people moving away from the capital was one of the driving forces behind a drop in rents. However, the lower rates could attract a whole new audience in the future when things can reopen. This means it could be a good time for investors to get their assets ready or even expand their portfolio.

Looking at council leasing in South London

Finefair Ltd has been working very hard to support landlords through some very difficult times recently. Our aim is to give them the most consistent services. Many of our clients have been really happy that we have been able to give them guaranteed rent even while there has been so much upheaval and uncertainty. This can take a great weight off them.

If you are a landlord and want services you can rely on, we are here to help. We set high standards, staking our reputation on being the best for council leasing South London has. Get in touch today if you want to find out more about how we work and the benefits we offer.