It’s fair to say that life has changed exponentially for people all over the world, from the way we work, to the way we live and play. But that change has come hand in hand with a poignant realisation – our homes have never been more important to us, and the area we decide to live in has the capacity to make a huge difference in our everyday lives.
Covid-19 has brought into clear focus the crucial role of local communities, from shops to the welcome return of the great British park, which have become the new pillars of society during lockdown. In the absence of pubs, bars, restaurants and cafes – all staples of our typical daily lives – we as a country have had to find new ways to fill our days and socialise (from a distance, of course).
Battersea was fortunately brought back to life long before the pandemic hit and remains to be a hotspot for both locals and visitors with attractions such as the iconic Power Station itself, the beautiful Battersea Park, and now the reopening of shops, bars and restaurants, as well as Uber Boats running along the Thames from the pier. Battersea and the rest of London are gradually opening up its doors again after many months of keeping them closed shut.
But what can we expect from the market as we come out of the other side of lockdown and life returns to a new normal?
Whilst initial forecasts earlier on in the year were doom and gloom to say the least, certain mitigating factors have given the property market a much needed boost and the outlook is far more positive than it was a few months ago.
The changes around Stamp Duty have played a huge part in this, and with more and more people choosing staycations instead of travelling abroad, this summer has made for the mix of perfect circumstances for those looking to buy a new home. Locations such as Battersea – where communities are being built from the ground up with beautiful open spaces and social attractions to rival that of the City and the West End – have become areas of prime real estate.
With new properties on the market up by 44% from this time last year, it’s clear to see we are now experiencing a mini-boom which has breathed a new lease of life into the industry. Rightmove data also supports this, reporting that enquiries are up by 90%, sales are up by 60% and they have seen the highest number of sales agreed in a single month (July 2020) for more than ten years – adding up to over £37 billion in sales.
We are encouraged by this uplift in the market, the pent up demand we are seeing not only in the area but across the real estate industry as a whole, as well as looking forward to seeing what the new attractions at the development will bring to Battersea and the local community. A lockdown London, it would seem, is still London.
