Are London renters looking to flee the city post-pandemic?
Some 60% of London office workers who rent in the capital say the pandemic has made them reconsider their living situation, according to new research.
A survey by online letting agent Mashroom names Brighton & Hove as the most popular destination for tenants looking to relocate.
Other popular locations include Margate in Kent, Devon and Cornwall as many renters set their sights on living by the coast post-Covid-19.
Almost half of those said they crave cheaper living costs, while others are looking for a quieter lifestyle, better access to clean air and a better work/life balance.
Some 40% of the 500 surveyed said they would leave London if it meant they could afford a property with some outside space, while over 50% thought it would make it easier to start a family and achieve a more active lifestyle.
The vast majority of participants want their employers to be more accepting of remote working moving forward, while 65% said they have had a better work/life balance since working from home became the norm for millions in March.
“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,” says Stepan Dobrovolskiy, chief executive of Mashroom.
“Landlords could be set for a boom in business as more affordable housing makes for a much more enjoyable lifestyle.”
On the flipside, he says London landlords will need to offer better value for money to entice renters to stay.