Editor: The UK residential property market, understandably, was buffeted at the start of the first lockdown. But during this second lockdown, early indicators are looking good, with the stamp duty holiday undoubtedly helping.
Knight Frank found the number of valuations of homes being put up for sale was up 38% last week and exchanges were 11% higher. This makes a stark difference to the experience of the whole market in March.
However, a different story is emerging within the retirement living sector. This year, we have continued to see a surge in demand as the retirement village model has proven hugely effective in keeping older people safe and supported in their own homes.
With a strong sense of community across the villages, owners have felt more connected to others.
Recent research we did found that nearly half (47%) of people who haven’t yet retired and experienced lockdown loneliness are now reconsidering their later life plans, while more than two fifths (43%) say they will do anything they can to avoid loneliness in the future.
The attractiveness of the model has never been clearer to our owners and prospects and, indeed, to investors.
The key to minimising feelings of isolation is creating a strong support network and providing families with the reassurance that their loved ones are being well looked after.
We continue to invite prospects virtually through our doors so they can experience this themselves by video tours, external fly-throughs, and CGI visuals, all from their own home.
Nick Sanderson, chief executive, Audley Group