How the Housing Market has Changed in the Last Five Years
A major new research project – the Housing Futures report from Strutt & Parker - has revealed the major changes to the market over the last five years.
Three-bedroom properties are the most popular option, with 35% of home-movers choosing them, while four-bedroom properties have decreased in popularity, down 10% to 27%. Detached houses have also seen a decrease in popularity, from 83% to 49%, while semi-detached homes have risen in popularity from 5% to 14%.
Jamie Smart, Director of smarthomes commented “These findings make complete sense - on the whole, house prices have increased and so this means that once affordable properties have become out of reach for many people, hence the decline in sales of detached homes. Also, the trend for single-person households has increased and so smaller, semi-detached houses or flats become a more practical option.”
The research also revealed that city living has become more popular. It offers shorter commutes and a greater range of local amenities - a lifestyle that many people find desirable. Among the top reasons for moving home are access to public transport, good digital connectivity, providing financial support to relatives, privacy and access to local shops and amenities. And even in this digital age, more people want to be close to family and friends, up by 15% to 48%.
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