Permanent flexible working to drive up house prices for years to come

A long lasting shift to working from home is set to slash office environment desire, drive up home selling prices for many years to occur and even convey an finish to the flagship retail store, experts have stated.

Need for office environment room will slide by all around one particular-fifth, according to analysts at Barclays, as the greater part of bosses plan to make at least a degree of Covid-era remote working a extensive-term function of their companies.

Greater versatility, time saved on commuting, reduced expenditures and greater productiveness were all cited as explanations to preserve additional staff members working from residence for at least component of the week.

Just underneath one particular-quarter of businesses stated they will not really encourage staff members to get the job done from residence following the pandemic.

“People have discovered that remote get the job done can be particularly effective. As a consequence, we hope office environment desire to be reduced by up to 20pc,” stated the report in the bank’s once-a-year Equity Gilt Examine. 

Workplaces will “remain critical” but “the purpose of the office environment will improve, becoming the collecting place for social interactions and a place for collaboration and creativity-inspiring discussion, casual education and normal communication, as opposed to the course of action and activity-pushed room it has often been in the previous.”