As I write this latest (long overdue!) blog we are at the beginning of the Governments "road map" out of lockdown 3.0 which will hopefully see the UK get back to some degree of pre Covid-19 normality as of the 21st June.
The pandemic has brought into focus what people want and need out of housing more than ever before. We have lived, worked, educated and exercised in our homes for the best part of a year now and things will never be the same.
At Giraffe HQ we have seen a surge in demand from tenants and buyers who are looking for much more flexible space to live in which can facilitate all of the above. Outside space is at a premium. Landlords and sellers that have properties that enable more to be done at home are seeing properties sell or rent very quickly and for higher prices than 12 months ago!
Combine this all with ongoing cheap mortgage borrowing costs and it really is no surprise that house prices went up in the UK by 6% in 2020 according to Rightmove!
We expect these trends to continue for the foreseeable future and therefore, if you are considering buying a property to rent out in 2021, we would encourage you to think about what your tenants want and, more importantly, what they need.
Once a tenant is in situ with housing that suits their circumstances then, in our experience, they are much less likely to move on in the short term which, as a landlord, makes great business sense!
Giraffe Lets Ltd