How Is the Rise of Remote Work Affecting the Property Market?

How Is the Rise of Remote Work Affecting the Property Market?

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The age of remote work is upon us, with a recent study from Forbes discovering that 63 percent of people in the UK work from home either some or all of the time. The classic 9-5 office job could soon be obsolete, with technology making it easier than ever for people to work from anywhere.

With people spending more time at home, this new trend is obviously going to have an impact on the housing market. Indeed, there could be a rise in people relocating from cities to suburban areas to be closer to nature.

Keep Up to Date With Market Trends

If you’re someone with a lot of properties in the city, you may want to think about selling up and buying homes in suburban areas. That’s because fewer people are commuting these days, and there’s less demand for inner-city dwellings. In fact, recent stats have shown that fewer people are travelling into major cities to work now than in 2019.

The effects of the remote work craze haven’t been too unkind to the inner-city housing market yet, but it could lead to lowering house valuations in the future. That’s why now could be a good time to move out of the city. People are turning to online services to do this. You can sell a house fast at We Buy Any Home who provide cash offer within minutes and receive the funds for your property in seven days. That money could then be reinvested in the suburban abode market, which is likely to blow up over the next few years.

What Types of Home are Remote Workers Prioritising?

Homes in and close to the city used to be all the rage for workers, as they gave them close access to their jobs. Now that they can effectively work from anywhere, people’s thinking has changed. Workers are spending more time in their homes than ever before, so they realise that they need to invest more in making them perfect.

There’s also a greater focus on the area and what it can offer. Investopedia notes that people look for land size, amenities, and proximity to community when buying a home. Access to nature is hugely important after sitting at the computer all day, so homes close to parks and lakes are likely to skyrocket in value over the next decade.

How to Advertise Homes in the Modern Age

For letting agents, it’s all about buying up houses that are likely to appeal to renters. With remote work on the rise, it’s important to be conscious of this and advertise the features that are most likely to appeal to these people.

For example, you may want to highlight the amount of office space and how well lit it is. Remote workers will also be looking for places with high speed internet and quiet surroundings. Don’t forget to sell the nature aspects as well, as these workers will be hoping to spend some time outdoors too.
One thing is for certain – remote work is here to stay. Landlords need to think about buying property in sought-after areas for remote workers so they can advertise their homes to them.

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