Like many industries over the last 12 months, especially one that has been built on face-to-face meetings, real estate has had to adapt to survive and utilizing the latest technology has become essential for us to succeed in the new normal.
In particular and now more than ever as we find ourselves in the midst of a 3rd lockdown, virtual reality (VR) is one of the most effective tools available and here’s why:
For tours, VR can provide a 360-degree view of a property, 3D floor plans, and an interactive experience of the location.
Prospective buyers and renters can view properties directly from devices like computers, tablets, and smartphones anywhere in the world.
VR tours can help prospective applicants immediately envision themselves in the home – it allows people to explore a property in detail and to actively engage with what they see in their own time.
People don’t have to physically see the property to be convinced to make an offer.
VR allows estate agents to have a 24/7 open house, with no restrictions on viewings – ultimately maximizing your exposure!
The COVID-19 pandemic has resulted in both an aversion to human contact where possible and increased familiarity with digital tools. When buying or renting a house, people are therefore better prepared to complete the whole process online and VR makes this how process much more transparent, as buyers/renters are fully aware of the condition, size, and location of the home from the very start.
As an industry leader, we have fully embraced the use of VR and see this becoming an integral part of our industry, even after the pandemic is behind us. With restrictions across the capital likely to strengthen over the coming weeks, maybe days, it is essential that you are best prepared for what lies ahead and while estate agents can still show property for now, there is every possibility this might change. If agents aren’t able to show property and applicants can only view properties online then without a proper VR tour available, there is every possibility you could find yourself with a vacant property and no income.
Get in touch with us now to speak about this further and get a quote for your home!
The effects on the property market due to Covid-19 have been clear; with the country on lockdown since the end of March there has certainly been less activity across the UK housing market. However, since the lockdown measures were lifted for estate agents last month, we have seen an increase in lettings activity and it’s clear that people are preparing themselves for life after lockdown – a massive boost for the lettings market and one we certainly all needed!
At UK SIR, we saw lettings enquiries increase by over 130% from April to May, echoing our predictions of pent up demand during the lockdown period which put almost everything property related on hold. This huge increase is partly due to the fall in demand we saw at the end of March, but this is an extremely positive change and a sign that demand for rental properties is growing much more than sales.
Despite this returning demand and rise in enquiries, while rents initially remained fairly steady, new reports suggest that achieved rent levels look likely to come down and we have already seen Landlords accepting lower offers to ensure they have a tenant and eliminate any vacancy period even if this means taking a lower rent. June through to September is typically the busiest period of the year for lettings agents but with travel restrictions still in place, we have seen hardly any corporate relocations since Q1 and the uncertainty for students surrounding their studying means the flurry of international students we normally see at this time of the year is down as well. With that said, people will always need a place to live and with the wider impact of Covid-19 on the sales market, we expect to see more would be buyers filling the void and opting to rent instead with lettings being a more stable option as the long term effects of this pandemic become more clear. For that reason I expect the lettings market to remain buoyant with more activity predicted over the following months.
Those who are looking are planning for every eventuality and the lock-down has put peoples living situations into perspective with many revaluating what they actually need and what’s most important to them. Many of the enquiries we are now seeing have requests for outside space and a home working space which shows the shift in people’s needs as working from home for many is likely to continue for some time. With the fear this could happen again at the back of many people’s minds, they want to know they are prepared for another lock-down and have the most comfortable home environment possible.
This is also evident through the increase in activity from our Country Office. The demand for country rental properties is still strong with many London families looking to either up sticks and relocate to more rural areas with good connections into London or to acquire a second home where they can all live more comfortably without feeling on top of each other in their smaller London residences which might have little to no outside space. With the “staycation” also expected to be more popular this summer with families opting to stay in the UK rather than take the risk of traveling abroad, we expect to see many people taking out short-term holiday lets with houses coming with pools and tennis courts being the most popular.
During the lockdown it was important that we did not become complacent and were there to support our clients throughout this difficult time. While the country was on lockdown we continued to advise and prepare our landlords for when the lockdown is lifted. This was a great opportunity for many of them to get their properties ready whether that be finishing off the renovations, tidying up the garden or as we saw for many – organising virtual reality tours of their homes. We wanted to ensure we were putting our clients in the best possible position to capitalise on the returning activity as soon as social distancing measures were lifted and it was thanks to this effort that meant we were ready come 13th May, with multiple offers already agreed.
Abbey Lodge is a uniquely historical house in a desirable location. The house has a rich history, and dates predominantly from the 15th and 16th centuries. Farthinghoe is a rural south Northamptonshire village close to the border of north Oxfordshire. The village has a primary school, The Fox public house/restaurant, repair garage and parish church. There is good communication with intercity train services from Bicester North to London Marylebone and access to the M40 at either J10 for the south or J11 for the north.
Enjoy your first view of this traditional country house set within 12 acres from the gravelled sweeping driveway, the solid wooden door giving access to the traditional hall with flagstone floors and high ceilings, step into a cosy TV room with comfy armchairs, cushions and colourful throws, the perfect space to lose yourself in a movie. Passing back through the dining hall a larger lounge warmed by the open fire, welcomes you with comfortable seating for all that come to stay. The indoor pool with heated pool and changing rooms is perfect whatever the season with by folding doors that open onto the gardens.
This luxury farmhouse is the perfect place from which to explore the rolling Cotswold countryside whilst still being close to the market towns of Witney, Woodstock and the City of Oxford. The farm has plenty of space with 7 bedrooms, 5 bathrooms, 3 reception rooms and a superb Johnny Grey designed kitchen. New Yatt is a small village situated 2 miles from the bustling market town of Witney. Woodstock and Blenheim Palace are 7 miles away and the “city of dreaming spires” Oxford 12 miles.
Presenting this modern two-bedroom, two-bathroom first floor lateral apartment with a large semi-open plan living room complete with a modern bespoke kitchen. The apartment is beautifully presented having been recently redecorated throughout and further benefits from access to a balcony from the living room. Turner House is perfectly located in the heart of Covent Garden and is moments from the Covent Garden Piazza benefiting from the plethora of shops, bars and restaurants the area has to offer.
Sotheby’s International Realty presents this one-bedroom serviced apartment (approx 615 sq.ft) situated on the ground floor located in the heart of Marylebone.
This apartment comprises a open plan living area set with a plush custom-made sofa, handwoven vintage Berber rug, and Hans Wagner wing chair. Generous built-in walnut wood shelving houses a 43” Smart TV and selection of art coffee table books. For the musically inclined there is a turntable, Marshal Bluetooth Speaker and handpicked selection of records. The dining area, set with vintage Arkana table and four original Eames Bikini dining chairs, leads into a spacious, fully equipped kitchen that looks out onto the mews. A well-appointed bathroom has a bath and shower combination and a hidden cupboard that houses a combined washer/dryer. Towards the back of the apartment, the bedroom has a super king bed, generous built-in wardrobe space, and benefits from a large window that looks out onto a planted courtyard.
Weymouth Mews is located in the heart of Marylebone High Street owned by The Howard de Walden Estate. Ideally located moments from the hustle and bustle of Oxford Street, yet a Village atmosphere offering an array of shops, restaurants and cafes. Nearby Marylebone Station and Bond Street Underground Station.
Diana Tran, MARLA
Associate Director, Central London – Residential Lettings