With light at the end of the Covid tunnel, many industries are reflecting on the impact of the pandemic, and the property market is no exception. There will be a deep dive to try and understand the level of the impact and what the future holds.
Fortunately, bricks and mortar has been relatively safe in the UK, with the stamp duty holiday boosting the market when it was needed most. Overall, 2020 saw property prices increase by 8.5 per cent as the market saw a surge after the Chancellors stamp duty announcement.
With the stamp duty holiday now extended until the end of June 2021, and the full stamp duty bands only returning in October 2021, there’s even more reason for optimism. The number of private landlords also hit record levels at the end of 2020, with the year rounding off in rude health for the property market.
However, that doesn’t mean there won’t be a fallout from Covid. From asset management companies to developers and even single-property landlords, everyone has felt the pandemic’s impact in some capacity. Now, the time has come to reflect on the past 12 months and how they will shape the property landscape in the next year.
How long will the effects of Covid last, and is there a new dynamic for tenants as a result of the pandemic? London, in particular, lost much of its allure during the subsequent lockdowns. Are we finally seeing a shift from big-city demand, or is it just a temporary trend?
What about landlords and how they approach the market? How has the no-eviction ban affected investors? And what role does technology have to play in the rental market? Have we become even more dependent on it, and is it a good thing if we have?
There are still so many questions that need answering, and we’ve taken a deep dive into the effects of Covid and what happens next with our latest white paper.
In this white paper, you will learn
- An overview of the 2020 rental market and what happens next
- How Covid impacted landlords and tenants
- The Covid effect on the future of renting
Download the white paper, and get the lowdown on how the rental market and Covid, what happened and what happens next.