What the Rental Market Wants - Major Changes in the last Five Years - Nova
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Every five years the Housing Futures Report is published by Strutt & Parker. This year’s report reveals some major changes having occurred since 2013, mainly due to political events and policies.

Renting has increased as a future tenure from 10% to 13% which indicates that renting ones home is growing in popularity.

Big cities have also gained popularity as a home, up from 9% to 15% as a preferred location to live. Additionally, the number of people anticipating living in a single person household rose from 8% to 11%.

Most home movers see broadband internet as an essential, up from 48% to 57%. Supporting family members financially has also become a key reason to move home, up from 15% to 22%.

In line with the trend of responders wanting to live closer to a big city, the five years’ worth of survey data revealed that the most popular reasons for moving involved accessible lifestyle benefits such as access to local shops and amenities, digital connectivity, and public transport. Public transport accessibility had a significant uplift since the 2013 survey with 48% of responders mentioning it, compared to 37% in 2013.

Walking to work has also had a massive increase in popularity, up from 25% to 36%. And the desire to live in a detached house has dropped right down from 83% to 49%.

Vanessa Hale, Director of Research at Strutt & Parker interpreted the report, “Connectivity seems to be the key for British home movers in 2018. We want to be connected in all areas of our lives, digitally through our mobiles and laptops and physically to good transport links and local shops and leisure facilities. There is a growing requirement for connection, community and convenience.”

“Since 2013, good broadband has jumped from 48% to 57% as a key motivation for moving. It is now seen as a necessity for many as it impacts on every area of our life, whether that be work or leisure, if we don’t have it at our fingertips,’ she pointed out.

“This move towards connection also goes some way to explain why our survey shows that big city life has become more appealing to people. By their very nature, cities tend to offer a greater level of accessibility than smaller towns or villages. City dwellers don’t have long commutes to work and can enjoy walking to a local cafe or the gym. In today’s hectic times, this is the lifestyle many people want.”

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