An investment place in the country?
We’ve all had that bit more time to contemplate over the past few months, especially when it comes to establishing what we want from our homes, whether owning or renting. Situations and priorities will obviously change, and what we might have been happy with at the start of the year may not still be the case as we move into 2021.
Focusing on tenants, it appears that there is growing demand for a move away from cities into the country. Research conducted by OnePoll on behalf of The Mortgage Lender suggested that more than one in five landlords (21%) are predicting their tenants will move away from the more urban areas.
This is thought to be a result of the complications caused by coronavirus, and the increased number of individuals working from home. The research also showed that 35% of landlords had changed their view on the type of tenants they would find attractive in the future because of the pandemic.
In addition, the latest quarterly rent index from The Deposit Protection Service outlined increased demand for rural and larger properties and lower demand for urban properties and flats during the third quarter of 2020.
The increase in remote working capabilities across many businesses appears to be pushing a growing number of urban renters to reassess their priorities and potentially focus more on outside space and the ability to incorporate a home office where possible. It’s clear that country living is proving ever more attractive to a growing number of tenants, and this is a trend which landlords need to consider when looking to add to portfolios and maximise future yields.