- Research shows that lockdown has made more than two thirds (70%) of Exeter homeowners want to move to a new property
- Two fifths (43%) of Exeter homeowners will continue working from home when restrictions lift
- Home working sees more than half (51%) of Exeter residents cut their commuting time, helping two thirds (62%) save more than £100 per month on commuting costs
The impact of lockdown restrictions on the lives of Exeter homeowners has made more than two thirds (70%) of people living in the city claim they want to move to a new home, according to the latest data released today by Zoopla, the UK’s most comprehensive property destination.
The data , which studies the impact of lockdown restrictions on the views of homeowners in Exeter towards their current property, highlights a strong desire for a new home for many local residents.
When asked about the chances of returning to an office environment once lockdown restrictions have been lifted, two fifths (43%) of homeowners surveyed said they will continue to work predominantly from home, highlighting the need for additional, flexible space.
This need for space extends to both the indoors and outdoors, illustrated by data from Zoopla in early 2021 that revealed demand for ‘gardens’ topped the list of Zoopla search terms for buyers in Exeter in 2020. In fact, six of the ten most searched-for terms by property hunters in Exeter during 2020 related to increased indoor and outdoor space.
While lockdown has been tough for many people, the Zoopla research highlights that it has also brought some benefits for Exeter homeowners.
Two fifths (41%) of those surveyed by Zoopla said that as a result of the restrictions, they no longer had to commute to work.
Of the Exeter residents who still commute to work, over half (51%) said lockdown has reduced their commuting time thanks to the addition of home working.
The benefits of a decrease in commuting has also impacted homeowners’ finances. The research shows that two thirds (62%) of Exeter homeowners have saved more than £100 per month on travel costs during lockdown, while almost one in 30 (3%) is saving more than £500 per month.
Roger Wilkinson, MD of Exeter-based leading independent estate agents, Wilkinson Grant & Co says: “This data does not a surprise us at all. There’s no question that lockdown has really dialled-up the desire for Exeter homeowners to find a new property. In many regards, lockdown has unleashed latent demand for more space across the city and across the county.
“Whether it’s looking for additional space for a home office, a bigger garden for family time, or an annexe for a child to return home or a parent to move-in, or even a larger apartment with a balcony or roof garden, the desire for new property has skyrocketed since April 2020. Indeed, it has stepped-up during the current lock-down restrictions. With the latest new on a route out of lockdown, good progress with vaccines, even without the anticipated boost of an extension to the Stamp Duty Holiday, we expect this re-evaluation of what people are looking for in their ideal next home to continue throughout this year and beyond”.
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