14 Oct 2020
Tenants are looking to invest in properties with more space, the latest research has pointed out. Spacious areas in the UK’s 22 major cities are more in demand, boosted by the long-lasting effects of the coronavirus pandemic.
“There’s no denying that the current pandemic has caused a shift in tenant demand trends as many have looked for more space in the wake of initial lockdown restrictions,” experts stated. People have started to look for properties with a bigger space as they plan to carry out their work from home, amidst the ongoing pandemic.
There is a 29% demand for houses whilst the demand for flats is at 26%. Portsmouth, Sheffield and Cardiff have the highest demand for houses, just behind Belfast and Glasgow.
“This will be welcome news for landlords who have seen demand for flats fall and have had to slash rental prices to secure a tenant.”
Additionally, there is an overall tenant demand of 24% in Manchester and 25% in Liverpool. Birmingham and Leeds have a demand of 22% and 11% respectively.
On the other hand, Manchester saw the highest demand for flats at 57% and Liverpool at 53%.