Property: Best place to invest in property after COVID-19 after surge in rental demand

House prices: Chartered Surveyor discusses impact of lockdown

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The pandemic has meant that many Britons are now working from home, making it much more flexible in terms of where they can live. The average price of a home in London dipped 1.4 percent in February, according to figures from the Land Registry, after many have realised that they can work remotely from anywhere they desire.

Beachfront homes have become extremely expensive throughout the past year, with those sheltered among sand dunes and marram grass being the most popular.

One estate agent, Jason Stubbs, whose company covers the coast between East Sussex and Kent, explained: “I recently had a client with £3million to spend on one.

“When I told him there were none for sale, he said he’d go to £6million, just to have a beach-top position.”

The expert believed that lockdowns have enhanced the value of beachfront homes, with London office workers discovering they can work remotely from anywhere in the country.

What’s more, letting a beachfront home during peak season could see huge returns.

It is thought that property in the likes of Cornwall could see returns of up to £6,500 a week during high season.

The appeal in staycations could see those letting out their properties make a fortune.

In January, property prices in the popular holiday destination rocketed by 1.4 percent, the highest in the South West.

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The average house price in January was £265,775, Land Registry figures show – a 1.4 percent increase in December.

Over the last year, the average property in the area has risen by £31,000, showing many city dwellers relocating to the beach.

According to Rightmove last year, online searches for properties in remote or coastal locations sharply increased.

Shetland Isles, Sandbanks, St.Davids and South Devon were among the most popular hotspots for people viewing properties following the UK’s first national lockdown.

At the time, Rightmove’s housing market analyst Miles Shipside said: “People often use Rightmove to daydream, so it’s not surprising to see some of the search areas on the up being the most expensive in the UK.

“The beautiful areas in the far north in the list are likely a mixture of people daydreaming of living somewhere more remote, and those seriously thinking about changing their lifestyle after lockdown.”

While beachfront locations are no doubt some of the most popular locations, property in remote towns have also increased in price.

At the beginning of this year, the historic Scottish town of Paisley was among the most searched for locations.

The average asking price of a home in Paisley in February was £126,903, which was £16,183 more expensive than that of last year.

At the time, Rightmove property data expert, Tim Bannister, said: “Demand for property in Paisley is very high at the moment, with searches for homes to buy in the town having risen by 44 percent compared to this time last year.

“Naturally demand leads to rising prices and with swathes of rolling countryside on the doorstep, it makes sense that Paisley is such a popular destination for home-movers looking for more space.

“With regards to the other price hotspots in our table, it’s interesting that places in the North West are continuing to perform really strongly.”

Britons moving up north compared to the likes of Cornwall and Devon could get more for their money with the average house price in Paisley nearly £140,000 cheaper than that in the South West.

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