A recent poll of over 1,000 tenants revealed that 53% have been put off moving due to the ongoing pandemic, with concerns over safety coming out on top as the main reason.
SpareRoom users were asked recently why they had been put off from moving home. A breakdown from the respondents is below:
What put you off? (Select all that apply)
Moving didn't feel safe - 40%
Things were too uncertain to plan ahead - 31%
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, 54% now plan to move within the next 6 months and 24% plan to move in the next year - indicating 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 don't feel safe to make this step yet.
Matt Hutchinson, SpareRoom director, comments: “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.”