On 1 August, the Prime Minister officially ended the Government's "work from home" guidance saying that decisions should be made at the "discretion" of the employers rather than employees. Yet, workers in the UK appear to be far more reluctant to return to their offices than those in other European countries. According to a report by Alpha Wise, the research arm of Morgan Stanley, only 34% of UK employees have gone back to the office compared with 68% in the rest of Europe. In Germany, Spain and Italy, for example, three-quarters of employees are now back, whilst 83% of employees in France have already returned (just don't try to find them during the still obligatory 2 hour lunch break!). So why is it that Brits are actively avoiding the office? Well, some research has suggested that the COVID-19 pandemic has changed working life in the UK so dramatically that many people believe it will never go back to normal. In fact, 45% of UK employees in a recent YouGov survey believed that lockdown will change their company's approach to flexible working permanently, relieving them (they hope) of an arduous, stressful commute. Add an August heatwave to the mix and The Weekly can find plenty of reasons to delay donning a mask, commuting on public transport, and getting to grips with the new reality of socially-distanced desks and closed canteens. It certainly goes a long way to explaining why Rightmove has reported a 126% year-on-year increase in the number of village enquiries from city dwellers now set on a more rural existence. And one that definitely does not envisage five days a week hard slog in and out of the office!

The Weekly attended the MSCI Quarterly results Webinar this week to find out how property had performed in the Quarter ending 30 June 2020, a period that can only be described as truly tumultuous. Unsurprisingly, Total Quarterly returns were down at -1.9%, the lowest recorded figure since June 2009 at the height of the global financial crisis, and many of the sector-level statistics made rather uncomfortable reading. Shopping centres, for example, recorded a -22.8% total return over the last 12 months. In contrast, however, the residential sector has been remarkably resilient. Residential posted a 12 month rolling return of 4.5%, whilst investors are also showing renewed interest in UK Residential REITs, where rent collection statistics remain at pre-crisis levels. Maybe the message from investors is that people can do without their local shopping centre, but they will always need good-quality rental homes. And if renters are now using them as a part-time office, occasional classroom facility for their children and post-holiday quarantine hide-out, the need is greater than ever!

Booking a foreign holiday in 2020 has become something of a lottery. Can we go? Should we go? Is the annual booze cruise to France really worth the risk of two weeks self-isolation with three children? After Spain was suddenly taken off the list of Coronavirus travel corridors, forcing holiday makers to self-isolate for 14 days on their return to the UK, holidaymakers to other countries have been left wondering if their trip will also be cancelled at a moment's notice. On Thursday evening quarantine measures were imposed on those travelling to the Bahamas, Andorra and Belgium. And France, it seems, is also on the brink. On the positive side, if you've now got a couple of weeks to spare because you've cancelled your trip to Spain or the Bahamas, you could always try a last minute deal to Malaysia instead which is coming off the exemption list from the 11 August. Brunei is also being added to the "safe list", but The Weekly isn't convinced that diverting people from the party town of Magaluf to a Muslim state, where drinking in public is banned and unmarried couples can't share a bedroom, is a particularly sensible idea!