A poll of SpareRoom users reveals that 53% are put off moving due to the pandemic.
Other reasons give for not wanting o move home include:
I lost my job/was furloughed – 18%
I didn’t want to go to viewings – 5%
Other – 4%
My landlord reduced the rent – 2%
However, of those who were put off moving, just over half – 54% – now plan to move within the next six months and a quarter – 24% – plan to move in the next year.
This suggests that confidence is rising and the market is starting to pick up again now restrictions are easing. Not everyone feels this way though, 14% of those who put off moving still do not feel safe to make this step yet.
Matt Hutchinson, SpareRoom director, said: “The pandemic has definitely put a lot of people’s moving plans on hold. For some this is due to health concerns and for others down to the financial implications the pandemic had on their lives. However, as the UK restrictions continue to ease, and we can finally see light at the end of the tunnel, people are planning ahead again.
“We expect to see demand increase this quarter, but rents may take a little longer to recover. It will be interesting to see what happens over the coming months.”