How the cult of working from home will depress house prices for good

“I labored remotely so it didn’t actually matter the place I lived and the home costs have been a lot cheaper,” he mentioned. “It was a no brainer.”

They paid round £250,000 for a two-bedroom terrace – considerably lower than what it might have price them to purchase in Bromley. He mentioned that they had been trying in London however may solely afford a one-bedroom flat.

“The standard of life is rather a lot higher,” he mentioned. “Fairly than spending time commuting, we are able to spend that point truly having fun with breakfast and going out within the morning for a stroll. Fortunately the place we dwell now’s a 10-minute stroll from farmland. So we are able to truly take pleasure in a bit extra of our free time than we might have been ready if we have been caught commuting.”

He mentioned his employees are dotted round completely different components of the nation as a result of they haven’t any workplaces – together with one who lives in rural Norfolk.

Mr Smith plans to maintain working remotely for the foreseeable future.

‘Employers start calling employees again to the workplace’

Predictions in regards to the impression of working from dwelling on home costs are primarily based on the belief that it’s going to stay a everlasting function of the labour market, however some employers are demanding a return to the workplace.

The funding financial institution Investec desires its employees to return to the workplace for 4 days every week, up from three, The Telegraph revealed earlier this week.

Lloyds Banking Group, JP Morgan and BlackRock have all instructed their staff that they have to return to the office extra regularly.

However Paul Johnson, director of the Institute for Fiscal Research assume tank, mentioned most firms anticipated to retain some type of versatile working.

Fewer than one in ten firms have instructed employees they have to come again to the workplace full-time, in accordance with a survey of 120 firms by property agent CBRE.

Nearly all of companies mentioned they count on to push for a return to extra common workplace life within the coming months, however simply 6pc are planning to implement full-time commuting.