In the UK, the Nationwide house price index for MayBut as Robert Gardner, the Nationwide's chief economist, points out,"there are some signs this is starting to stabilise". He adds that this is because the current situation is not a typical economic downturn.
However, behind those headline figures, there are other forces at work on the property sector. Many of us have suddenly realised that we can work from home and avoid the commute and the office, and this is already having an influence on the market.With many of us having successfully worked from home during the lockdown, will offices ever be as busy as before?with larger gardens and space for a home office.
An added issue is that before coronavirus, the trend was already towards fewer shops on the High Street, and more services - things you can't get online - such as cafes, hairdressers and beauticians. In the US, where there has been a similar trend in the retail sector, the problem is slightly different. As land is so cheap, and planning permission so easy to get, there is a long tradition of retail parks and malls just being abandoned if they are not making money, or cost too much to upgrade. The impact of coronavirus could see this trend increase.
Agriculture can be only protector of humanity when a crisis like this happen. If agriculture is not there hunger will destroy lives. So virus problem has given a lesson that agriculture lands should not be changed to concrete buildings(by real estate)
Dear Jonty Bloom, unfortunately you’re not going to get your rent down by writing articles like this.
'May' really but why? How? It will be ok we are saving lives and that more important than anything.
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