Changing Priorites in Housing - More Space
Covid-19 is continuing to impact the housing market often in unexpected ways - in particular, changing the ways in which both buyers and sellers are organizing their priorities and desires.
In this post we’re going to highlight one example that is indicative of a larger future trend that will be worth watching over the coming months.
With property sales in the interior areas of BC (such as the Okanagan Valley) on the rise, it’s becoming clear that buyers are seeking out more spacious and open areas, with lots of room to wander and explore.
After experiencing lockdown within the more crowded confines of built-up urban areas, the value of quieter wide-open spaces is becoming apparent.
Covid-19 hasn’t just shifted people’s ideas of where they want to live - it’s also changed the ways in which they think of their free time. More and more people are looking to socialize outdoors, for personal and health reasons, as well as looking to take advantage of the recreation opportunities around them.
Additionally, as the number of people working from home increases, proximity and commuting distance will no longer be primary concerns for as many, opening up areas that they would have previously ignored.
The other side of this trend, however, is reflective of something we are seeing across all housing markets: the demand to move is outpacing the demand to sell. If this continues to hold, we would expect to see an increase in housing prices in the short term. That being said, forecasting future trends in the light of Covid-19 has proven to be difficult.
The best way to make sure you’re on top of the market and getting the outcomes you want is by working with the experts, and here at Jack Barker we pride ourselves on our knowledge, experience, and excellent service. To find out more about what we can do for you, contact us today.