The sentimental post-lockdown property market
Based in the North West, Slater Heelis is a full-service law firm offering legal services for individuals and businesses across Corporate, Employment, Family Law, Personal Injury, Residential and Commercial Property, Private Client and Criminal Law.
Slater Heelis is supporting this year’s National Conversation Week with advice for consumers looking to purchase a house during the pandemic. With demand for property increasing the need for sound and experienced legal support remains as important as ever.
For over a year, the lockdown has seen us confined to our homes, turning them for many into a safe haven against the worrying impact of the pandemic.
Many consumers have had extra money to spend on their homes due to transport, holiday and leisure spending being curtailed, and have been investing time and energy into making their homes a more comfortable and relaxing environment.
With emotional investment in our abodes at perhaps an all-time high, we take a look at how the resurgent UK property market is placing value on lifestyle-driven features that were not as important in the past.
Logistical motivations for moving home, such as school catchment areas and the quality of the food and drink scene and leisure facilities in the region have moved down the list of priorities, as people have found different ways to relax at home or in nearby outdoor spaces. From the size of gardens with space for a home bar or spa to garage storage for bikes and making sure that the home has space to accommodate growing families as a ‘forever home’, buyer motivations have changed across the board.
One thing that hasn’t changed is the importance of having experienced legal support throughout the buying and selling process. With people taking their first tentative steps back into the market, using solicitors that understand the complexities of property law offers vital reassurance.
Zara Banday, partner and head of the residential property team at Slater Heelis said: “You have to move quickly in this market if you are looking to buy, as stock is being snapped up at a rapid pace. Finding a house at the right price can be very tricky, so you have to move fast, but without falling foul of any potential pitfalls or legal checks and surveys.
“Lockdowns have affected the residential market in a number of ways, with transactions unable to complete and exchange of contracts on hold due to the logistical blockage on moving house whilst maintaining social distancing.
“We have certainly seen an upswing in enquiries and confidence definitely is returning to buyers and sellers. It’s fascinating to see how buyer motivations and domestic lifestyle needs have changed post-pandemic, but one thing’s for sure: people are definitely more determined to find their dream home than ever before.”
Visit www.slaterheelis.co.uk for expert advice from the residential property team.