Remote working creates new buy to let hotspots

Workers look to move out of the commuter belt to London, as remote working gives people more freedom and choice. Living by the sea can now be a reality!

Credit: Andrew Buchanan

Since the Coronavirus pandemic took hold in March, many office based workers have been forced to work from home in a bid to curb the spread of the outbreak. Offices have been left empty for months, as many workers have had to set up office at home. As this remote working life is set to continue, it’s left many people questioning where they live. As people no longer need to commute to work for the most part, the opportunities to live anywhere have really opened up.

If you ever wanted to live in a remote cottage nestled in the countryside or always longed for that sea view, it could now be a reality. Office based work is being done from anywhere and so the focus becomes more about where you’d want to live rather than moving to where the work is.

Where are people moving to?

According to research by RightMove, there is noticeable migration out of the centre of London and way beyond the commuting towns. The top three cities people are flocking from London to are Cambridge, Gloucester and Oxford. Cambridge alone has seen a 76% increase in searches. Rents in these cities are higher than the national average but still around £600 cheaper than London per month. 

Credit: Magna V

In London, Kingston upon Thames and Chessington are now London’s new prime renting locations with searches for rental properties in Chessington increasing by 99%.

Rents are still high in Chessington and according to Yahoo Finance have increased by 4.3% over the last year averaging £1,258 per month. Yet, this is still on average £742  cheaper than the average rent across the whole of London.

It’s becoming evident that people are moving to the outskirts of London and out of the city altogether. The shift from swapping urban areas for a slower pace of life appears to be happening over the last few months. With more people working remotely and having time to reassess their life and where they want to live, these moves are sure to continue.

This is undoubtedly going to change the rental landscape as new hotspots open up across the country and not just in major University towns or the capital. As the working world has currently changed and companies embrace this new approach to a work/life balance, this could open up opportunities for everyone.