State of the house share market
First wave
The market has changed tremendously for house shares since the pandemic began. Initially when the first wave hit the property market was affected massively, closing overnight with people unclear on whether they could rent or not.
One of the main reasons people held off on house shares was due to the uncertainty of covid, how did the disease spread? What was the incubation period? How long would you have the virus for? If you then add isolation rules to the mix which were fairly unclear at the time, people were being more reliant on their housemates to isolate and effectively putting their safety in the hands of others. House shares became potentially dangerous environments, especially for those who were at risk.
Adapting to the pandemic
A change in demand as a result of hygiene due to covid moved more to people requiring en-suite rooms therefore properties which were 4/5 bed with one or two bathrooms were largely undesirable .Universities being advised to close campuses meant students went home not needing their rooms. This resulted in house shares across the country facing many vacant rooms. With students going back to live with their parents and those at risk isolating for extended periods of time the house share market was at a standstill. As lockdown progressed, we learnt to live with the virus and became more educated in hygiene and social distancing.
Return to ‘normal’
Skip forward to today and the HMO market is through the roof. Universities are back up and running and travel commencing is meaning students are returning back to campuses and needing accommodation. Less people are working remotely and as a result will need to move closer to their work and require accommodation. Large scale development in the area with the likes of wind energy and construction are meaning lots of contractors are travelling to the area for work and needing short/mid term lets while they are here. Adding to that regular demand for working professionals and suddenly you will find the market is crazy.
Looking for a house share?
It’s a brilliant time to be in property but it really has been a rollercoaster over the last year and a half. More of us are craving that social interaction that a house share can bring, so now is a great time to apply through our website or give us a call on 01482 241261.
