Trend of buyers and tenants leaving cities is reversing – Castle Trust

Speaking on Specialist Lending Solutions TV in partnership with Castle Trust Bank, Oliver said this was affecting the types of properties and locations investors wanted to buy. 

He said: “Diversification in the market has actually driven more people post-pandemic to pull out of the city centres. We’re seeing that trend going the other way now.” 

He said because of this, landlords were taking advantage of investment opportunities where they could and focusing on refurbishments or conversions. 

Richard Merrett, head of strategic development at Simplybiz Mortgages, agreed, adding: “During lockdown everyone was itching to get out of cities for space. 

“But I think as we see a gradual return to normality, in particular people getting back into offices, flexible working will have an impact.”

Anthony Rose, director of LDNfinance, said he was also coming across clients who were staying in hotels one or two nights a week as expectations of how many days they needed to be in the office had adjusted. 

He said people changing jobs during the pandemic to companies with different working practices would also push the demand back to city living over the coming year. 

Watch the video below [7.46] featuring Shekina Tuahene, commercial editor of Mortgage Solutions and Specialist Lending Solutions, Robert Oliver, director of sales at Castle Trust Bank, Anthony Rose, director of LDNfinance, Kris Corns, operations director at Crystal Specialist Finance and Richard Merrett, head of strategic development at Simplybiz Mortgages.