Talk of ‘flight from cities’ is overstated – Zoopla
There has been much speculation about the long-term outlook for housing demand in cities. COVID has boosted demand outside the major cities but Zoopla believes this is more a one-off factor than a long-term ‘seismic shift’ in home buyer attitudes.
A recent Zoopla consumer survey of 2000 households found 55% of those who commute expect to do so less often, while the top change in priority was to have a garden or outside space. If households increase the prioritisation of more space, a garden and less commuting, then housing demand will increase where this supply of this type of housing is more readily available, which is outside inner-city locations.
COVID has impacted household decisions but Zoopla characterizes this as a shift in priorities rather than a structural change in market fundamentals.
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