Are we done with commuting?

5th January 2022

By Will Leyland

In all fairness, there probably are very few among us who actually enjoy commuting. After all, driving or sitting on public transport for extended periods of time early in the morning is highly unlikely to rank highly on people’s lists of things they enjoy doing.

That is, of course, unless you live in an area of outstanding beauty or work somewhere of equivalent surroundings. Potentially if you’re a national park ranger then the commute isn’t so bad, but we’re willing to bet that not many people’s commute lives up to national park standard.

Luckily the pandemic gave us an excellent chance to see what it would be like if we didn’t have to spend up to an hour or two in a tin can full of other people on the way to work, and it would be fair to say that most preferred it.

Working from home could certainly be considered an upgrade to this, and now an increasing amount of research is suggesting we won’t be giving it up any time soon.

Working from home

Despite a hugely successful vaccination programme and a return to near complete normality following the summer, the Omicron variant emerging has meant that we’re back in a situation where the government has advised us to work from home again where possible.

It would seem that the vast majority of employers have now successfully adjusted to this new normal, with many now offering hybrid working.

Despite that, a fifth of British workers are seemingly not planning to return to the office at all. New research by Kura, a nationally-representative survey of 2,000 UK workers, suggests that just under one fifth aren’t planning to return (19.1%)

What does that mean for our cities, towns and property investment then?

Cities and towns working from home

There’s not much of a likelihood of businesses in city centres that have kept their offices so far, now getting rid of them because of these latest changes.

As we’ve mentioned most have now adjusted to a new way of working with hybrid arrangements of part time office based and part home based.

With that in mind, any major changes that were likely to take place to city centres has probably already happened and those that were looking to radically change their living situation probably have done.

The vast majority of people living in cities and large towns now do so because they want to. Sure, it might also be convenient for work but the larger likelihood is that they like it.

With the UK property market regularly increasing in price by 10% year-on-year since the pandemic cities and large towns still represent incredibly good value for investment, especially considering the relative volatility of other investment markets whilst there’s uncertainty over further lockdowns, so now is a good time to consider investment in UK property.

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Are we done with commuting?

05 January 2022

In all fairness, there probably are very few among us who actually enjoy commuting. After all, driving or sitting on public transport for extended periods of time early in the morning is highly unlikely to rank highly on people’s lists of things they enjoy doing.

That is, of course, unless you live in an area of outstanding beauty or work somewhere of equivalent surroundings. Potentially if you’re a national park ranger then the commute isn’t so bad, but we’re willing to bet that not many people’s commute lives up to national park standard.

Luckily the pandemic gave us an excellent chance to see what it would be like if we didn’t have to spend up to an hour or two in a tin can full of other people on the way to work, and it would be fair to say that most preferred it.

Working from home could certainly be considered an upgrade to this, and now an increasing amount of research is suggesting we won’t be giving it up any time soon.

Working from home

Despite a hugely successful vaccination programme and a return to near complete normality following the summer, the Omicron variant emerging has meant that we’re back in a situation where the government has advised us to work from home again where possible.

It would seem that the vast majority of employers have now successfully adjusted to this new normal, with many now offering hybrid working.

Despite that, a fifth of British workers are seemingly not planning to return to the office at all. New research by Kura, a nationally-representative survey of 2,000 UK workers, suggests that just under one fifth aren’t planning to return (19.1%)

What does that mean for our cities, towns and property investment then?

Cities and towns working from home

There’s not much of a likelihood of businesses in city centres that have kept their offices so far, now getting rid of them because of these latest changes.

As we’ve mentioned most have now adjusted to a new way of working with hybrid arrangements of part time office based and part home based.

With that in mind, any major changes that were likely to take place to city centres has probably already happened and those that were looking to radically change their living situation probably have done.

The vast majority of people living in cities and large towns now do so because they want to. Sure, it might also be convenient for work but the larger likelihood is that they like it.

With the UK property market regularly increasing in price by 10% year-on-year since the pandemic cities and large towns still represent incredibly good value for investment, especially considering the relative volatility of other investment markets whilst there’s uncertainty over further lockdowns, so now is a good time to consider investment in UK property.

Will Leyland

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