Five Years On: How COVID Reshaped the UK Property Market

When the pandemic slammed into the world in 2020, it turned the UK property market on its head. Lockdowns forced estate agents to lock their doors and buyers to put plans on hold. However, once the initial shock wore off, the market exploded, largely due to new priorities and a sudden rethinking of what people wanted from their homes.

Five years later, the COVID effects are still shaping where we live, what we buy and how we work. But the question is, which trends are here to stay?

The Great Escape (And the Return to Cities)

Remember the "race for space"? With offices closed and remote work the norm, city dwellers bolted for the countryside and coast, craving bigger homes, gardens and a slower pace of life. Cornwall briefly overtook London as Rightmove’s most-searched location in 2021, and nearly half of Londoners considered leaving the capital.

Today, the pendulum is swinging back. London has reclaimed its spot as the UK’s most searched-for location, and 58% of its residents now say they want to stay put. Coastal properties, once flying off the market, now take three weeks longer to sell than they did at the peak of the exodus.

Why the shift? Employers are pushing for a return to the office, at least part-time, and although hybrid work is still widespread, the appeal of easy commutes and city amenities has crept back in.

What Buyers Want from the UK Property Market Now

The pandemic changed what people looked for in a home. And the hunger for space hasn’t gone away: semi-detached and detached homes have seen the biggest price jumps -- 24% and 23% respectively since 2020 -- whereas flats have lagged behind with only a 5% rise over the same period.

But buyer priorities have evolved. In 2020, searches for "acre" spiked as people dreamed of sprawling rural plots. Now "annexe" is the second most popular search term, hinting at demand for flexible living spaces (whether for home offices, rental income or multi-generational living). And "garage" still tops the list, proving that storage and parking remain key selling points.

Renters’ New Priorities

The rental market has seen its own shake-up. As mortgage rates rose post-COVID, many would-be buyers were stuck renting longer, keeping demand high. But tenants’ wish lists have shifted, too.

In 2020, "furnished" and "bills included" were top priorities, reflecting the uncertainty of the pandemic era. Now "garage" has jumped to second place while "pets" remains the number one search term. The upcoming Renters’ Rights Bill, which makes it harder for landlords to reject pet owners, could make that even more crucial for property investors.

Conclusion

Covid rewired buyer and renter priorities for good. Space, flexibility and work-life balance still matter but the definition of the "perfect home" keeps getting a facelift.

And with technology making remote work easier than ever, the tug-of-war between city and country living isn’t over -- just yet. Five years on the pandemic’s effects are still written into the walls of the UK’s housing market.