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UK property investment: why you should consider investing in coastal towns in 2021

Online lettings agency Mashroom have found that around 60% of London renters are looking to move out of the city on a search for a quieter life. So why is this?

Since the beginning of the COVID-19 pandemic earlier this year, many of us had no other choice other than working remotely. Undoubtedly, remote work is a divisive question. On one hand, we have the people whose professions necessitate a physical presence in a workspace and who seek face to face interaction. On the other hand, are the people whose professions or need for interaction with work colleagues is not as crucial, making remote work the perfect scenario.

As more and more companies such as Facebook are giving the choice to their employees to work remotely forever, the question which arises for many Londoners and other city-dwellers across the UK is the one of whether to move away from the city or not. Why live in the city if you can work remotely and never have to physically go into an office again?

blue and white wooden chairs near seaside

Mashroom’s research found that out of the Londoners spending £1,464 a month on rent, 41% asserted that living in London was no longer worth it and 85% claimed that they were willing to work remotely. What’s more is that 65% of the respondents said they had a better work-life balance since they started working remotely. Moreover, 40% also said that they would leave London instantly if they could afford a property with an outdoor space and 54% said it would be easier to start a family outside of the city. 43% of the respondents in the report stated that they were seeking a quieter lifestyle outside of London, 42% said they wanted to move by the sea and 41% said they wanted better access to clean air.

All these numbers reveal that London and other cities are heavily dependent on quality of life factors which have been deeply affected by the COVID-19 pandemic. Not only are cities reliant on work opportunities but also on the diverse activities one can partake in when living in an urban centre. The fact that so many restaurants, pubs, bars, venues and museums amongst others have been closed for months now, best highlight what makes cities so great and what is currently missing. Take away the need to physically go into a workplace and the possibility for people to go out and enjoy themselves and you are confronted to the harsh reality that cities fully depend on these two factors. Without them, accommodation prices seem too high and people are not content with the lack of leisure and entertainment.

black and white kanji text signage

Mashroom underlines: “As employers open up to remote working as the new way of life, millions of renters are reconsidering their living conditions. It’s no surprise so many are craving an escape to the coast or countryside, as London’s bright lights have dimmed over the past six months as restaurants, bars, and entertainment venues have been shut or operating at a limited capacity.”

As 30% of Londoners stated that Brighton & Hove would be their go-to city to relocate to, whereas 19% of them agreed that they would like to move by the seaside, we recommend investing in seaside towns. The other top places to relocate were Margate, Devon, Cornwall and Turnbridge Wells. For those of you who want to avoid the time-consuming process of finding good deals in seaside towns and cities, we recommend using deal sourcing software to complement your needs. Some city-dwellers are still debating on whether to leave the urban centres, but most have already taken the first step. Check out our other blogpost on the surge in property demand post-lockdown for more information!

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