The word changed dramatically as a result of the Covid-19 epidemic. Economies began to collapse, businesses closed, people lost their jobs, and the world as we knew it came to a halt. Every sector, every firm, and every industry suffered, from the aviation industry to the entertainment industry, from real estate to the hospitality industry.
The United Kingdom was among the countries that went into lockdown. Employees were only allowed to work from home during the lockdown, and many were fired or had their salaries reduced; people were forced to stay at home for days throughout the multiple lockdowns.
That is when the demand for larger homes and more spacious properties arose. People were bored of sitting inside and decided to move into larger and nicer places; in fact, demand for residences with outdoor spaces increased dramatically during this time.
Homeowners from the city began to relocate to the suburbs in search of more room and outdoor space. Some of the main reasons for this growing trend, according to letting agents in Cheltenham, are listed below.
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The most major reason for people moving from the city to the suburbs is, of course, a shortage of space. Home upgrades became more popular as people were compelled to stay indoors and work from home.
While some homeowners could afford to add extra bedrooms and private gardens to their homes, the majority of homeowners decided to sell their city-center residences and go to the suburbs, where they could live in larger, more comfortable homes.
The idea of working from home
People used to live in the city centre since it was easier to get to their place of work. Because of the commuting time, a person working in Central London would prefer to live in a tiny two-bedroom apartment in the city centre rather than a three-bedroom property in the suburbs.
People no longer had to worry about commuting to and from work because they could now work from home. As a result, many who had to migrate due to their employment location decided to do so. People who had been living in small apartments in the city decided to relocate to larger homes in the suburbs.
In fact, some people choose to relocate to the suburbs in order to purchase a larger home and convert a spare bedroom or garage into a home office. In other words, work from home has had a significant impact on the trend of people relocating from the city to the suburbs.
The difference in the average property price
The average price of real estate in the boroughs and suburbs is lower than the average price of real estate in the city centre. Homeowners in the city believed that they could purchase more spacious homes in the suburbs for the same, if not less, money.
The average price of property in Central London, for example, is roughly £1,582,149, whereas the average price of property in a suburb like Cheltenham is about £250,000 – £300,000. Whether homeowners opt to sell their home and buy a new one in the suburbs or rent a home in the suburbs, it will be more cost-effective in the long term.
4Exorbitant rents and day-to-day costs
People who want to live in the city centre must be highly qualified in order to acquire a high-paying job that will allow them to afford the sky-high city centre rentals. However, due to the Covid-19 pandemic, finding such high-paying occupations was extremely difficult, making it impossible for people to make ends meet.
Furthermore, living in the city is more costly than living in the uburbs or boroughs. People began to lose jobs or face wage cutbacks as a result of the economic downturn, and they sought to reduce their living expenditures by relocating to more affordable places.
The ability to move around freely
Working from home gave individuals and professionals more flexibility. Previously, employees in the corporate sector could only take a few days off for vacation. People can now work from anywhere in the country or the world thanks to the concept of work from home.
Some people preferred to relocate closer to the countryside so that they could work and enjoy nature, while others chose to relocate to the suburbs so that they could continue to enjoy urban life on a smaller scale.