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Nearly 25% Will Not Commute Post-Pandemic

After 18 months of changing advice, many Brits have adopted to working from home (WFH) as the new norm, and are unlikely to return, according to David Hannah, principal consultant at Cornerstone Tax.

This has left millions looking for larger living spaces, gardens, and ocean or country views, and Cornerstone Tax’s latest research has found that 3.3m people have moved home already, choosing instead to settle away from cities or urban areas. This is reflected in the 10.8% house price growth for homes outside major cities in contrast to just 8.9% growth for city properties.

Data from Hamptons estate agents also shows Londoners alone buying 61,380 homes outside the capital between January and June 2021, the highest number since 2006, with the research by Cornerstone illustrating the sentiments behind this:

  • 44% of Brits feel that the impact of coronavirus has made living in a city less appealing
  • 24%, or 4.3m Brits, will no longer commute into a city for their job post-pandemic.

Property has historically been more expensive and more cramped in urban areas, particularly in London. There is now less of a need to pay for commuting convenience, and this means getting more living space for the cost of your city flat.

Analysis from the Valuation Office Agency (VOA) has found that the median floor space for houses in England and Wales was 99sqm, which is about nine typical parking spaces. Meanwhile, the median floor space for a flat is 43sqm, which is less than the size of four car parking spaces.

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