Why are the British returning to the big cities?

During the pandemic the demand for rental housing in major UK cities has dropped significantly. This is due to the fact that many workers were forced to switch to remote work, which allowed them to move out of town to more affordable houses and apartments. Many decided to move in with their parents in order to save money.

Another reason is the introduction of strict quarantine measures throughout the country. Tenants of apartments in metropolitan areas decided to move to private houses in order to be able to go outside, walk their pets, etc.

All these factors have led to a decrease in the cost of rent in large metropolitan areas compared to last year. As of the beginning of 2021 we can note the following statistics:

• in London, rents fell 9.4%;
• in Edinburgh - by 3.2%;
• in Manchester - by 1%.

If in 2016 the average rent in London was 53% of the earnings of one employee, then in the beginning of 2021 this figure dropped to 42%. The national average today is about 31%.

The current situation in big cities

Due to the fact that rents have fallen significantly, many workers have begun to gradually return to big cities. At the same time they began to pay more and more attention to the specific characteristics of residential real estate before renting. Nowadays many choose more comfortable housing than they rented earlier, preferring apartments with a terrace, balcony or garden. According to experts, this trend will continue in the coming months.