Throughout the COVID-19 pandemic, demand for properties in city centre locations decreased. But as lockdown restrictions start to lift, the industry is now seeing a sharp rise in people looking to return to urban centres.
During the pandemic, location preferences changed. Many professionals worked from home, opening up new locations for tenants and property guardians – without the constraints of commuting. People were looking for quieter surroundings to suit their adjusted lifestyles and their new work life balance. There was also an increase in people moving back home to live with family, as jobs were furloughed, and uncertainty filled the air.
But as restrictions start to ease and confidence returns, there is a sharp increase in demand for city centre property. City centres are now bouncing back as offices and hospitality settings open back up – bringing jobs and visitors.
Gráinne Gilmore, head of research at Zoopla, said: “The opening up of the economy and the slow return to ‘business as usual’ as the vaccine rolls out means demand will continue to build over the summer as more people move to rent their first property. Although, as ever, this will be dependent on the economy opening up in line with the planned timetable.
“Demand will continue to rise in city centres as offices start to reopen and this, coupled with increased affordability levels in many cases, will start to counter the negative pressure on rents seen over the last 12 months.”
Are you looking to get back to city life? Here are a few of our favourite London properties – you can view all of our current availability here
As part of an extensive London regeneration project, a G15 housing association needed to decant a large housing estate. Because of its prominent, central location the building was classes as high risk and vulnerable to anti-social behaviour and squatting.
As the housing association rehomed tenants, DEX Property Guardians were instructed to move into the empty flats, to provide live-in empty property security in return for affordable, central rental solution.
As each flat became available, DEX Property Management carried out a risk assessment of the property.
Once the properties were certified, DEX Property Management made each flat habitable – painting, carrying out electrical/plumbing work, carpeting and supplying white goods were necessary.
When ready, fully vetted property guardians were placed in the property to deter antisocial behaviour and provide reassurance for existing tenants.
DEX Property Management carried our regular checks and maintenance of the property.
Over a 3 month period, property guardians were moved out of the flats. As each flat became free, soft stripping of that unit could begin. DEX property guardians still live in 4 of the most vulnerable flats to ensure the site remains secure until redevelopment starts. The majority of DEX property guardians have moved on to secure other properties for DEX Property Management.
Property guardians provided a cost effective and flexible security solution for the client throughout the decant process.
Rather than paying for security the housing association were able to create a revenue stream.
Tenants felt safer as they weren’t surrounded by empty, vulnerable property.
Buildings were well maintained, and antisocial behaviour was prevented, benefitting the local community.
An affordable rental solution was provided to 164 property guardians over a 3 year period.
Empty property security – Guardian living space
Property Guardianship can save you thousands with your empty property security. As a leading Property Guardian Provider, we take the headache out of the entire process. Our trained staff are on-hand to answer any questions you may have about registering your property with DEX Property Management. Call us today on 0800 0855 994 or register your interest here.
Amidst the backlash, some companies are making their own decisions about how they will work. Capita, for instance, have opted to close over a third of their offices, whilst banks such as Virgin Money and Lloyds Banking Group are looking at ways to convert their high-street branches into alternative office spaces.
It’s anticipated that the UK could lose £480 billion if home working continues, and the property market isn’t exempt from this.
Surveillance and security are costs many property owners haven’t factored into forecasts, and with the likelihood that many buildings will go and/or remain unoccupied, this could become an expense that’ll inevitably end up eroding revenue.
Property Guardianship can save you thousands. As a leading Property Guardian Provider, we take the headache out of the entire process, meaning you can focus your efforts on how you can remain profitable amidst the pandemic. Our trained staff are on-hand to answer any questions you may have about registering your property with DEX Property Management. Call us today on 0800 0855 994 or register your interest here.