What will the urban comeback look like?
With our great capital city mostly deserted for the last year due to the pandemic, you might ask how it will look when it returns to normality.
As we now realise how much of a social species we are, we have a new-found appreciation of our need to congregate and interact. Our urban green spaces have been reenergised and ways of improving our environs through initiatives such as cycle lanes have come to the fore during the past year.
The desire for little ‘villages’ within our city is emerging where people want to have as much as possible close-by so they can enjoy their localities.
Our need to get out and enjoy London life means that the city will once again have a buzz about it. This resurgence of activity will attract people to it, just like it has for centuries.
What will this resurgence mean for the London property market?
As shops, restaurants and workplaces reopen, people will want to live close to where they work and socialise, whether that is Canary Wharf or another location in the city. Areas with good local transport and access to countrywide and international travel links will be in high demand.
London is unrivalled when it comes to these factors and therefore demand for property here will be high, as we and the rest of the world once again opens up.
Being the envy of the world from style to culture to innovation, people will always be drawn to the excitement and buzz that London can offer like nowhere else.
What will this mean for buying, selling and investing in London property?
People are already snapping up property in London to take advantage of the stamp duty holiday and the 95% mortgage guarantee scheme.
As society opens up post-pandemic and urban living once again offers an enviable lifestyle choice, now is a good time to buy a property in Canary Wharf to live in. Or you might consider buying an investment property as the city returns to the hive of activity that makes it a magnet to people worldwide.
If your circumstances mean you are in a position to sell your property, now is the time to get it onto the market to take advantage of this post-pandemic surge in property sales before the government incentives for buyers end.