Local high streets could be poised for a revival if the trend for home working continues.
“Sales of second homes are booming as the metropolitan middle classes seek country boltholes.”
“Left unchecked this is potentially an insatiable demand which hollows out permanent communities, pushes up prices and puts pressure to build on green fields.”
As our working lives change, so are our living patterns – and this might well change the physical shape of our townscapes:
It is clear that our high streets are also facing huge changes:
Perhaps the new life-work balance will also have positive effect on our town centres:
Particularly as companies close down their headquarters and formerly office-bound workers can stay put in the suburbs or move out to that dream location:
And so many commentators are saying this will ‘revive town life’:
Already in May, the FT was already asking the question:
And there are increasing signs that this is happening
And that this could have positive knock-on effects:
Home working trend could ‘revive the High Street’
Local high streets could be poised for a revival if the trend for home working continues, a survey suggests.
The Royal Institution of Chartered Surveyors’ latest commercial property survey found almost all members – 93% – saw businesses scaling back their office space in the next two years. It said a move away from urban hubs could prompt a shift to neighbourhoods.
Although there are fears that such an inflow of cash into the provinces could also have its negative sides:
The East Devon Watch (aka ‘Owl’) news site references a piece from the Times:
SECOND HOME SALES SOAR AS MIDDLE CLASSES QUIT CITIES
“Sales of second homes are booming as the metropolitan middle classes seek country boltholes in case of a second wave of coronavirus.”
Left unchecked this is potentially an insatiable demand which hollows out permanent communities, pushes up prices and puts pressure to build on green fields. Second homers can always outbid the locally employed because of huge regional wage differentials. – Owl
Andrew Ellson Consumer Affairs Correspondent The Times:
“The stamp duty holiday is also encouraging people who have been considering splashing out on a rural retreat to take the plunge, according to market experts. Coreco, the mortgage broker, says applications from people buying second homes are up more than 30 per cent since lockdown eased compared with the same time last year.
“Andrew Montlake, managing director of the company, said: ‘Lots of my clients have been thinking about it for a while. Lockdown was a big factor and has given them time to contemplate their future. They are also thinking that if we are going to go into lockdown again they might as well be somewhere nice rather than in London or the City. Most believe they will also be working more flexibly ‘in future so are looking for places with an office and garden.’ He added that people are buying at locations across the country but Norfolk, Devon and Cornwall were favourites.”