No place like home

December 2020

There’s no place like home. The phrase has always been true, but especially so in the last six months. What used to be a spot to return to after a long day now serves multiple purposes to people all day, every day. The home is now an office, school, restaurant, gym, playroom and more. 

Covid-19 has accelerated a trend which puts our homes at the centre of our lives. This shift has encouraged us to review the design and functionality of our rooms. For years, open concept floor plans have been popular, but now we are shifting back to more traditional layouts with spaces that can be closed off to create specific cocoons – home school classrooms, playrooms and, as 64% of Knight Frank’s Global Buyer Survey respondents attest to their importance, offices too.

66% of Knight Frank’s respondents said they also value gardens and outside space after the lockdown period emphasised the real connection between wellbeing and the Great Outdoors. And with Tier 2 rules across London banning socialising indoors, gardens across the city have become the new reception rooms and places to entertain.

When asked what luxury consumers are looking for in 2020/2021, Northacre CEO Niccolò Barattieri commented “Lockdown has served as a pause for thought and given us time to reflect on what we value most. True luxury now is living in a home surrounded by friends and family, with green outdoor spaces and magnificent city views, as well as the best cultural and lifestyle offerings all within a short walk.”

There is no doubt that Prime Central London will reap the benefits of this post-Covid focus for residents and homeowners. JLL’s residential forecast for 2021 reports that “prices and rents will begin to grow again in 2021. As the downturn begins to abate wealthy global investors will turn their attention to Prime Central London, one of the world’s most exclusive housing markets, as they did after the Global Financial Crisis. “

In summary, our affection for where we live has significantly deepened in 2020 and it has become this year’s ultimate luxury good. With the right design and a prime location, we can make our home a place of solace and a continual source of pride.