Property Business: How Covid-19 Has Impacted The Property Market.
/It goes without saying that Covid-19 has impacted all of us in some way or the other. No matter where you live, how old you are or what industry you work in; you are going to feel some changes to your life thanks to this pandemic.
For some people this may be a minimal change, for others it may be more major. One industry that has felt a change is the property market. The property market in general is not as buoyant as it used to be which means less than usual people are buying and selling their homes and less than usual people are currently looking for a property to rent due to the financial restraints and instability of the current season.
Of course, it doesn’t mean that no-one is looking for somewhere new to live and it also doesn’t mean that things won’t change in the future.
Let’s take a look at how different things might be in a post Covid-19 world:
House are going to look better: One thing that is for sure when it comes to a post Covid-19 world, is that homes are going to look amazingly different. More and more people have spent time making over their homes, whether it is one that they live in or one that they rent out to someone else. Rental properties that look great are going to look more appealing, which means that they are not only easier to rent, but they can also get more rent money too.
More virtual viewings: Another key change in a Covid-19 world is how viewings work. Virtual viewings are now a go to for many people, as they don’t want to enter into someone else’s space. Virtual viewings are great because they allow someone to see a home at a time that suits them. They don’t have to travel anywhere and whilst they might not get a total feel of the house, they are also less likely to cancel or just not show up at all.
More people are going to rent: It isn’t all bad news for landlords during 2021. In fact, more and more people are going to want to rent their home rather than buy it. People are not quite as financially secure as they used to be, what with being furloughed or perhaps even being worried about losing their jobs completely. Those who are self-employed will also have had to use savings and money they would usually put away to cover their earnings. This means that they are going to want to look at places to rent, when they may have bought. Great news for those who own a buy to let property and who want to make the most of their investment!
We don’t know what this year will bring, but we hope that things do start to get better. It is going to take time to recover from everything that Covid-19 has thrown at us, but together we can start to get ourselves in a much better place.
How can we at Studio 19Twelve help you today to boost your rental property with our interior design, styling and sourcing skills?
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Contemporary living room mood board - (e-design service).
Living room of HMO project.