Picture of wooden houses with question marks over them. Reference to uncertain housing market.

Work from anywhere and its impact on the housing market

If you’re currently trying to move house it will come as no surprise to you that house prices are booming and demand is high.

The nasty disease that is COVID 19 has many unpleasant side effects. But pressure on the housing market wasn’t one that the scientists predicted!

At Public Practice Recruitment Ltd we’ve written before about why a ‘work from anywhere’ policy is now a very real option for many accountancy firms. The benefits to both employers and employees are many!

But as this policy, or a version of it is implemented at firms large and small, across all sectors, up and down the UK, people are reconsidering their living choices in record numbers and the result is a mass migration of workers.

And it comes as no surpise really! If you’ve spent the last eighteen months working from your kitchen table or maybe even a desk crammed into your bedroom and you’ve just been alerted that you won’t be required to return  to the office, who can blame you for wanting to reconsider your home/working environment?! Plus a whole swathe of the population have found themselves suddenly able to save without the temptation of exotic holidays and are now keen to put this wealth to good use.

So whether you are an accountant considering relocation for a new post in your career or if you are just looking to upsize, downsize or just find a brighter and better view from your desk, we’ve compiled a few top tips for accountants looking to move house.

1. Hold tight if you can.

At the time of writing this blog the COVID induced stamp duty holiday is due to end at the end of June (just a few weeks from now.) Sellers and buyers alike will be rushing their transactions keen to make the most of it but if you’re a buyer starting your search now you are unlikely to reap the benefits of the holiday.

What’s more the holiday itself will be driving the market which means it will be increasing the cost of property you may wish to buy. If you are able to hold tight making an offer until after the holiday ends you will get the opportunity to see what effect it has on competition and prices for flats or houses.

2. Do some fresh research.

Don’t assume that the market in the area you’d been looking to buy in two or three years ago is the same as it once was. COVID has meant that the value of houses in some areas has crashed while others have spiked. In general there is a much bigger demand now on rural housing than there was in 2018. If you’re working on budgets you put together pre pandemic you might be in for a nasty surprise and find that you’re no longer able to buy or sell for the price you’d previously aimed for.

3. Act fast and ensure you’re an attractive buyer or renter.

The market is currently working in the favour of the seller or landlord with demand outstripping supply by some margin. So when you find the property you want to own or rent be prepared to submit your offer or sign a contract. And consider all the ways that you can make yourself more atttractive as a buyer or tenant so that you’re chosen as the preffered resident. Can you be flexible on completion? Can you provide a cash deposit? Are you a first time buyer with no chain? All of these issues will matter.

4. Don’t forget that most accountancy firms need and want your talent and will be prepared to let you work from anywhere.

So before you up sticks and move your entire life to another part of the country for a new job, spend a few months getting to know your new team and the location of the office while working from your current home. Moving to the wrong area is a costly and stressful mistake so take the time to get it right. It’s highly likely that your new employer will be supportive of this.

If you’re fed up of the home or area in which you live, there has never been a better time to work from anywhere. Our jobs pages are packed with vacancies from employers who have adopted a more modern approach to how they operate and they’d be delighted to hear from you, even if you’re not currently on their patch.

At Public Practice Recruitment Ltd we’re experienced in supporting candidates to relocate for new jobs and ultimately, if that’s what you decide to do, we can help you secure support from your new employer. We’re no estate agent but we are first class recruitment agents who only work in the niche sector of accountancy, so be sure to upload your CV today and make 2021 the year of positive change at home and at work.

 

 

 

 

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