Kirstie Allsopp has spent her lockdown in the countryside in rural Devon. However, according to Kirstie Allsopp’s property prediction, the rest of us could soon be joining her as part of a ‘mass exodus’ to the countryside.
Speaking on The World at One, the Location, Location, Location presenter revealed that as the housing market gets going again, an ‘exodus to the country’ is a strong possibility. This, in turn, could lead to a dip in city house prices.
‘Ever since this first appeared, and I have a production company which makes our shows, and I’ve been having Zoom meetings with my colleagues. I think there will be a number of changes in the property market,’ the property guru told listeners.
Kirstie Allsopp predicts that the ‘new normals’ – such as working from home – will have a huge impact on people’s priorities when it comes to buying a new home.
‘I think office space will probably drop in value as less is needed,’ explains Kirstie Allsopp. ‘I think the value of properties will change. There has been a huge link between your commute and your property. That might alter.’
The presenter also believes we could see a shift in people prioritising space and access to green space over the commuting distance.
‘People are talking about their work-life balance in a way they never have before. Property has an impact on that,’ she says. ‘People will be saying “I’ve been paying a huge mortgage to live within a commute of this place. I want to pay half the mortgage and live further away”.’
Despite her predictions of a price drop in city centres, Kirstie Allsopp has few concerns about the housing market churning back into action.
‘What always spurs the housing market is the three Ds, and they’re all grim: death, divorce and destitution,’ she says. ‘All of which are going to be factors in the housing market going forward.’
‘People are going to be losing their jobs. Two million more people, unemployed, are looking at a very severe recession if not a depression. That going to result in people needing to move.
‘Obviously, very sadly some people have lost their lives. Elderly people, who their children will be looking to sell their homes – double the number of usual,’ she adds. ‘And of course, there is the divorce element, so there are lots of reasons why people are going to be desperate to move and desperate to sell.’
Are you planning an escape to the country?