Zoopla has put together a top-ten list of the search terms that were used most by home hunters during the year. For proper investors and developers alike, these keywords are a great way for you to provide exactly what the market wants.
Coronavirus has had a surprising impact on the UK property market. With the economy struggling and many businesses facing job cuts and even closure, the UK’s property market has instead stead a spike in house prices and demand. As we all were encouraged to spend more time at home than ever, lockdown got home-hunters analysing what they really want from their next move.
Top of Zoopla’s list was a ‘garden;’ after being cooped up indoors, it seems we are all desperate for a little more outdoor space to be able to create an extension to our homes. The analysis of their advanced property search tool over the 12 months showed a garden to be the most searched term by both potential buyers and renters.
Next on the list came ‘detached,’ ‘rural’ and ‘secluded.’ With renters also keen to find a property with a ‘balcony.’
Another popular search was ‘garage’ and ‘parking,’ making it into the top three for both buyers and renters.
What Do Potential Buyers Want?
From these findings, buyers are looking for spacious homes that offer plenty of outdoor space and storage. With a garden, garage and parking facilities came within the top three most-searched-terms.
Due to the coronavirus pandemic, more and more people are aware of the possibility of more lockdowns in the future. They want to provide themselves and their families with outdoor space to enjoy safely.
The term that possibly came as a bit of a surprise was an ‘annexe.’ As some families have now been apart for the best part of a year, buyers are considering the possibility of cohabiting alongside their elderly parents; while allowing them their own independence in the form of an annexe.
For property investors and developers, by sourcing properties outside of the city centres, you may have more opportunity to provide these much-valued features. With more open space, and the possibility to build an annexe nearby, tailoring your property to these needs will give you the edge over competing properties on the market.
What Are Renters Looking For?
In similar results, those who are negotiating the rental market are also on the lookout for houses and flats that offer some outdoor space and secure parking. If you can secure an investment in a former commercial building, you may have the opportunity to convert this into luxury apartments with their own private balconies; allowing people an area to escape their four-walls and even to create a potted green space.
Pet-friendly accommodation is also on the rise. During the lockdown, there was a surge in the number of people rehoming or purchasing a four-legged friend to keep them company. It this been released than 41% bought a puppy during the pandemic for their companionship, 38% said they did so as they were spending more time at home.
Other popular terms included the desire of an ‘ensuite’ and, if possible, to have bills included within their rent.
- Bills Included