Latest News

HM Land Registry portal enhancements – a benefit to the property industry

11 August 2020

Following the announcement on 27 July that transfers of ownership of property, leases, mortgages, and other property dealings can be signed electronically, HM Land Registry has also confirmed that customers in Wales and England can now manage all portal applications and correspondence in one central place. Read More...

Government urged to speed up cladding remediation process

10 August 2020

The second report from the Industry Safety Steering Group on the progress of culture change in the construction sector was issued on 5 August, which highlighted the need for further change for the industry now, ahead of the legislation. Read More...

Consultation to reform planning system launched

06 August 2020

Housing Secretary, Robert Jenrick announced today, 6 August, the Government is ‘Planning for the Future’ and aims to overhaul outdated systems and reform the way the country builds. Read More...

Property market to continue through Aberdeen lockdown

06 August 2020

Following the announcement on 5 August by First Minister, Nicola Sturgeon, that Aberdeen is in lockdown for a period of at least seven days, the Scottish Government has published regulations clarifying the property market can still function. Read More...

How COVID-19 has affected Northern Ireland’s housing trends

Friday 17 July 2020

Both first time buyers (FTB) and home movers are looking for a base to set up a work-life balance, a recent PropertyPal survey has found. The intentions and preferences of both groups in the wake of the COVID-19 pandemic are looked at.

Demand for housing relatively stable

One in five people who were looking to purchase a property in 2020 pre COVID-19 no longer intend to do so. However, in contrast, one in four of those who did not intend to buy a are now looking to buy - meaning there is little change in the volume of prospective buyers.

Almost three in every four FTBs aim to purchase a detached or semi-detached house, with more than a third looking to spend under £140,000. Three quarters of home movers intend to buy a detached house, spending £200,000.

Gaining a sense of control

Three fifths of FTB think a property purchase will give them control over household decisions such as decorating or pets and see buying a home as a step towards personal fulfilment.

Among home movers, two fifths also saw personal fulfilment as a reason for their house purchase, with 28 percent also citing security as a key factor. 

Online connectivity the most important factor in choosing a new home

Both FTB and home movers cited a good internet connection was their top priority, as more work and entertainment move online during the pandemic. Being close to family was the second highest priority for both groups. 

First time buyers also sought a sense of community, whereas home movers prioritised an escape somewhere more rural. 
Looking at property features, gardens were a top priority for both groups, perhaps not surprisingly after months of lockdown. Privacy, and home office space, was also important to both groups, again this may be due to the recent pressures of the pandemic.

Just under a quarter of both groups considered a driveway important, and large kitchens or entertaining spaces were also considered a high priority by FTB and home movers alike. As well as the energy efficiency of a property, with a third of both groups showing this is important.

Perception of future house prices

61 per cent of FTB thought that house prices would decrease by up to 10 per cent in the next 12 months. Home movers were somewhat more optimistic, with 52 percent believing the same. Neither group strongly believed that process would rise in the next 12 months – just four per cent of FTB, and three per cent of home movers.

22 per cent of FTB are looking at more affordable homes in light of the pandemic, but that figure falls to just 14 per cent among home movers.

Over 50 per cent of FTBs stated they felt there was no impact on deposits with 43 per cent having a deposit of up to £20,000, which is good news for the recovery of the housing market.

PropertyPal Survey

Propertymark Housing Report

Propertymark’s own Housing Market Report gives a picture of the UK housing market and the issues that our members are experiencing. The May report can be found on the NAEA Propertymark website, which looks at the housing market in England post-lockdown.

Housing Market Report