In these unprecedented times, digital first is not just on the rise – it’s got its foot firmly on the accelerator pedal. Vast swathes of the country are watching the mounting impact of Covid-19 through their phones, tablets and laptops, captive in their homes obeying stringent government measures to contain the virus and save lives. For those that can, working from home is a welcome saviour, allowing them to stay productive, do their jobs, and stay safe. Covid-19 aside, with so many now choosing to work remotely, using their kitchen tables, lounges and bedrooms, it begs the question – what will residential real estate look like after the pandemic?
Events of recent weeks have seen the clear acceleration of several trends. As it was, digitally enabled, flexible working was increasingly a feature of everyday working life. Workers across a whole range of sectors from property to banking, to communications and the media – people who were working at home for a day or so a month are now doing so up to a day a week, and some even more.
In the short term, the coronavirus has forced all our hands – many are now working entirely from home, and we’re very well placed for that. It’s already clear to us that this will be a central feature of the post-coronavirus economy, especially when aided by the right technology.
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In these unprecedented times, digital first is not just on the rise – it’s got its foot firmly on the accelerator pedal. Vast swathes of the country are watching the mounting impact of Covid-19 through their phones, tablets and laptops, captive in their homes obeying stringent government measures to contain the virus and save lives. For those that can, working from home is a welcome saviour, allowing them to stay productive, do their jobs, and stay safe. Covid-19 aside, with so many now choosing to work remotely, using their kitchen tables, lounges and bedrooms, it begs the question – what will residential real estate look like after the pandemic?
Events of recent weeks have seen the clear acceleration of several trends. As it was, digitally enabled, flexible working was increasingly a feature of everyday working life. Workers across a whole range of sectors from property to banking, to communications and the media – people who were working at home for a day or so a month are now doing so up to a day a week, and some even more.
In the short term, the coronavirus has forced all our hands – many are now working entirely from home, and we’re very well placed for that. It’s already clear to us that this will be a central feature of the post-coronavirus economy, especially when aided by the right technology.
A fresh look
At Moda Living we’d already adapted our schemes, bringing this into our architecture, carefully designing our build-to-rent communities with co-working spaces, top of the range fibre broadband infrastructure and ensuring that lounge spaces in apartments could flip between both living and working.
The use of video conferencing tools is now prolific for business and personal use, with face-to-face meetings out of the question for the foreseeable future. Offices across the country ran testing days to prepare their staff for lockdown. Videoconferencing stocks, such as Zoom, surged 200% in less than a year, compared with a market fall of 17 per cent over the same period last year – unequivocal proof that our workforce and residents are digitally tooling up and unlikely to put them down.
It’s an increasingly similar story for how we live. All Moda residents have access to the MyModa app, which gives them access to 24/7 services including directly messaging a concierge, rent payment and delivery management as well as the ability to network and socialise, join virtual events and chat to each other via forums. Our reservation system allows potential residents to rent an apartment entirely online in 10 clicks, and this now also incorporates virtual viewings.
Different pace
Other trends increasing exponentially include how people access information, and the way we now shop. Online shopping for non-discretionary goods has rocketed, making delivery lockers, drop-off zones and post rooms critical to support those working at home. It is unlikely that the impact on these sectors will be reversed, with more people willing to go through paywalls, and fewer trips to the shops or high streets. Yes, the industry must adapt, and only time will tell.
Of course the more things change, the more they stay the same. If the world is to be working remotely, then the importance of health, wellbeing and staying active will increase in tandem as people combat a potentially more sedentary lifestyle. Working from home will necessitate more working out of home. At Angel Gardens in Manchester we now offer many wellbeing services such as complimentary health checks and 3D body analysis, and in normal times residents would have access to a free, 24-hour gym and rooftop sports pitch. Since isolation, we’ve adapted our offer, offering workouts online via our partner hero as well as weekly digital wellbeing workshops. All of which has seen high levels of engagement – a live courtyard workout we hosted online was streamed over 20k times – the need to stay healthy, fit and well is not diminishing, but quite the reverse.
Keeping in touch
Similarly, while we may be more digitally connected with each other, nothing will replace the fundamental importance of social contact in our daily lives. At our core we are social animals, and when we need face-to-face interaction, a private brainstorm or serious discussion, then offices or meeting rooms will still be preferable as places to engage properly with colleagues and workmates.
When the pandemic passes, we will be a more remote workforce; we will be more digitally connected, yet more human and sympathetic to each other. We will be more reliant on technology; and we will be longing for human connection. There is no doubt that digitally enabled remote working will be a more prominent feature of our daily lives. It will be for developers and operators to reconceptualise our dwellings as both workspaces and living spaces, so that we might embrace and prosper in a reconfigured economy.
Johnny Caddick is director of Moda Living