Worcester Then & Now
Five Years on from Lockdown: How Has the Housing Market Changed?
By Adam Paske, Director at Hollywell Homes
Cast your mind back to those early days of lockdown. Remember the surge in demand for space and the dream of coastal escapes? At the height of the pandemic, we witnessed a dramatic shift in what people wanted from their homes. But five years on, how much of that has stuck – and how much has changed?
At Hollywell Homes, we’ve been reflecting on the evolving property landscape right here in Worcester, and the data is revealing. While some pandemic-era trends have faded, others – like the desire for more room to breathe – are clearly here to stay.
“Lockdown changed the way people thought about where and how they live,” says Adam Paske, Director of Hollywell Homes. “We saw a real appetite for green space, home offices, and lifestyle-driven moves – and Worcester was perfectly placed to offer all of that.”
“Lockdown changed the way people thought about where and how they live,” says Adam Paske, Director of Hollywell Homes. “We saw a real appetite for green space, home offices, and lifestyle-driven moves – and Worcester was perfectly placed to offer all of that.”
Return to Pre-Pandemic Patterns in Worcester
During the pandemic, people flocked to rural and coastal areas in search of space and serenity. Here in Worcester, we saw a rise in people relocating from larger cities, drawn to our green surroundings, strong community feel, and easy access to both countryside and commuting routes.
“Worcester became a real magnet for people rethinking their priorities,” Adam explains. “Families wanted gardens, professionals wanted home offices, and everyone wanted a bit more breathing room.”
“Worcester became a real magnet for people rethinking their priorities,” Adam explains. “Families wanted gardens, professionals wanted home offices, and everyone wanted a bit more breathing room.”
Fast forward to today, and while some are still making that move, the pace has slowed slightly. The local market has stabilised, and we’re seeing more people buying and selling within Worcester itself rather than relocating from further afield.
“The initial rush has eased, but Worcester’s appeal has endured,” Adam adds. “People who moved here during lockdown are now putting down roots, and local buyers are re-entering the market with more confidence.”
“The initial rush has eased, but Worcester’s appeal has endured,” Adam adds. “People who moved here during lockdown are now putting down roots, and local buyers are re-entering the market with more confidence.”
Asking prices in the area rose sharply during the height of the trend, but they’ve now settled to a steadier pace. This mirrors national trends, with seaside and rural hotspots seeing less dramatic price increases compared to the pandemic peak.
A Tougher Road for First-Time Buyers
For those stepping onto the property ladder, it’s been a challenging few years. The average price of a first home nationally now sits at £227,965 – up 17% since early 2020. However, wages have grown by 30% in the same period, suggesting first-time buyers may, in theory, be able to borrow more.
But the reality is more complex. Rents have soared by 42% since 2020, outpacing both wage and house price growth. That, combined with ongoing cost-of-living pressures, has made it increasingly difficult for many renters to save for a deposit.
“Affordability is the biggest hurdle for first-time buyers right now,” says Adam. “Even with higher wages, rising rents and everyday costs mean people are saving less. It’s a real squeeze – and it’s something we’re very aware of when supporting buyers through the process.”
“Affordability is the biggest hurdle for first-time buyers right now,” says Adam. “Even with higher wages, rising rents and everyday costs mean people are saving less. It’s a real squeeze – and it’s something we’re very aware of when supporting buyers through the process.”
Mortgage costs have also risen sharply. The average five-year fixed rate is now 4.73%, compared to just 2.15% five years ago. That means a first-time buyer with a 20% deposit is now paying around £949 per month – a significant jump from the £590 average back in 2020.
“Our job at Hollywell Homes is to help people navigate these shifts,” Adam adds. “Whether you’re a first-time buyer, upsizing, or just looking for something that suits your lifestyle better, we’re here to help you make informed, confident decisions in today’s market.”
“Our job at Hollywell Homes is to help people navigate these shifts,” Adam adds. “Whether you’re a first-time buyer, upsizing, or just looking for something that suits your lifestyle better, we’re here to help you make informed, confident decisions in today’s market.”
In line with this, Hollywell Homes have relocated ourselves in the heart of St Johns! We are holding an open day on Saturday 3rd May 2025 between 11am-2pm for people to come and meet the team to celebrate our new office within the heart of the St Johns!
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