Sector - Heating & Ventilation

New Home Demand Rockets Post Lockdown

Interest in buying a new build home has increased since lockdown restrictions have been lifted. After spending months in their house, more and more people are re-evaluating their circumstances and are considering moving.

High quality, environmentally friendly, modern new build homes are being seen as a viable option by many. A new survey, which was released today by the Home Builders Federation (HBF), shows:

  • 55% of people polled stated that they now value their home space more than ever
  • 2 in 5 (40%) people say that they would now prioritise space for a home office if they were searching for a new home
  • 1 in 5 (18%) people want to change the style of their home, with 1 in 6 (16%) stating that their interest in updating their home has increased during lockdown
  • Almost a quarter of people (22%) aged 25-34 revealed that whilst being in lockdown their interest in interior design has increased, compared to just one in eight (12%) of those aged 45-54

As a result of this newfound desire to change, housebuilders throughout the UK are reporting a massive increase in the volume of new home enquiries and reservations since the sales process started last month.

New figures from property website Zoopla show:

  • Buyer demand for new build homes resurged by 66% in the six weeks that followed the reopening of the property market, and is now in line with demand levels recorded in February
  • Demand has recovered nationwide, with the North East recording a 139% rebound, the West Midlands 121%, and East Midlands 108%
  • First-time buyer demand is now outpacing pre-lockdown levels, with an 87% revival after an initial fall of 68% in the first two weeks of lockdown.

Stewart Baseley, Executive Chairman at the HBF, said: “Lockdown has been an extremely testing time, during which people have spent much more time than usual in their homes. This has led to a re-evaluation in how people see their homes and what they want from them. As a result, high-quality, environmentally friendly new build homes specifically designed for modern living are increasingly in demand. With homes available to suit all needs, budgets, and ages, there are options to suit everybody’s fresh new start. New Homes Week Unlocked will give those who have developed itchy feet an opportunity to update their space according to their new priorities.”

If you would like to read more like this, then please click here