Key themes: 

The way we live – a re-think: 

• Perspectives for the ideal house ‘floor plan’ have altered since Covid, as a larger focus on people working remotely in particular has forced a re-think for homeowners

• Ownership of pets peaked during Covid and people like external private space; quick access to external communal and private gardens is a priority. 

• As a result further thought is now required when planning garden and outdoor spaces, for instance long reach broadband connections and external electricity sockets for those working from home are essential features. 

• The rise in the requirement for gardens has led to a fall in demand for flats, but “there are signs that the flat market will return, with working in the office becoming more apparent as normality begins to resume”. 

• Individuals have changed their preferences from the open plan house. We are seeing an increased requirement for versatility in the home, with rooms having multiple functionalities.

• Lockdown provided clients thinking time which has subsequently changed the overall perspective on housing and value. Conversations are less about the number of bedrooms. Instead people have reassessed their personal environment and questioned the quality of their space and flexibility that this enables

• There has been considerable shift in focus from homeowners looking to design utility rooms into their homes

Expanded living space innovation

• Covid has accelerated trends – individuals have reevaluated their day to day life choices, as well as exploring their unexplored neighbourhood. There’s a further pursuit of quality of life and creating a functional environment for an office, a living room and a kids room etc. The London Property industry must think similarily. 

• People want pocket doors/screens to isolate themselves from their family so they can fully zone in on their work (or play!). They also want a free flowing internal/external space so they can use it appropriately (working if required) throughout the whole day.

• There is a further creativity requirement for versatile internal and external spaces. For instance a “wardrobe can’t just be narrowed down to a storing device, it must have multiple functionailities such as a workstation or dressing table”. Additionally, a laundry/pantry room should be nearer bedrooms for accessibility as generally we host people more post Covid.

• Now more than ever, further innovative ways are required to deal with individuals’ growing needs as people have reprioritised. On a macro scale, covid has accelerated employers’ ability to become flexible in order to attract the next best talent – the home has to be designed to keep up.

The London community is changing: 

• Pre Covid, there was a 70/30 split in favour of international buyers purchasing in prime central London locations. The split is now around 50/50, as the domestic buyer has increased in prevalence in London. 

• At the same time domestic buyers have identified that having a home away from home in London is a priority. And there’s been a large swing of families moving from London all together, for countryside or nearby seaside towns such as Brighton.

• Dormitory and Commuter towns are in serious decline, their existence is really being questioned – people prefer to move further away as they are willing to have a less frequent but longer commute to work.

• There has been a huge shift towards “Localism” since Covid, and as a result, high concentrations of workers spend more time and money in areas where they live. Many of these areas have plenty of skilled and creative entrepreneurs who are now realising opportunities with the localism ideal at heart. Many of these areas have lacked critical investment in recent years and the result is gentrification across pockets of London.

Current opportunities

• The changes London has experienced in the aftermath of Covid has emphasised the significant lack and shortage of houses. The UK Government is massively behind on their projections therefore there’s a need for an innovative strategic policy in the family home sector. Demand is strong so it’s forecasted that the London property market will remain resilient.

• Massive value in areas such as Paddington, Earls Court and Hampstead, as their shared external gardens are huge selling points. Areas such as Mayfair and Marylebone have actually presented a huge amount of value for investors whereas previously there wasn’t really an opportunity for growth. 

• The majority of the high street isn’t fit for purpose because the idea of Retail has changed so much in recent years. Covid in particular has spurred this on with the rise of Amazon and online purchasing. This has created opportunities for communal office hubs or alternative commercial enterprises with a focus on local and small artisanal producers. There is huge potential in engaging with home workers in local communities. 

• With Covid starting to become a distant memory (fingers crossed), its presence will continue to have a long lasting impact on how we operate. Looking further afield, we must concentrate on the macro-economics, inflation and corporation tax increasing which may have a lasting and sustained impact on the property sector.

• Exploring an untapped market of providing local services, and more localised ‘hubs’ in London. 

• Generally, developers aren’t building anything without significant outdoor space, does this provide an opportunity for clients still requiring…? 

Panel:

Chloe Leefe, Director Aykroyd & Co. 
Preston Benson, Founder of Really Local Group. 
James Munro, Director Granit Chartered Architects. 
Marcus Neale, Director Moncreo. 

Host: 

Jamie Menzies, Managing Director, Zebra Property Group

About Zebra Property Group:

Established in 2012, Zebra specialise in high end, bespoke residential and commercial construction projects across London and Edinburgh.

We pride ourselves on having a knowledgeable, agile and ambitious team. Our tradesmen are all specifically skilled and led by our experienced foremen.

Every job has an in-house project manager who leads our client through the process, delivering each construction project with efficiency and transparency.

We have nurtured relationships with our own carefully curated network of professionals in order to provide a smooth service for your project.