Trends in the UK housing market
The last few years have proved just how changeable the property market can be, but several trends look set to stay.
Younger buyers continue to be outnumbered by older buyers in the UK property market due to the wage to house-price ratio. *
Interestingly, our living spaces have dropped from 24.89 sqm to 17.09 sqm since the 70s. Overall, new homes are around 20% smaller than 50 years ago, however, the size of our kitchens have increased! **
A number of factors are driving an increase in homeowners, first-time buyers and buy-to-let investors choosing new-build properties. One of the key reasons is higher energy efficiency compared to that of older properties. *
Location to schooling and transport services continue to be primary influences on purchasing decisions. But other location-based factors – such as access to local shops – are becoming less of a consideration thanks to online delivery services. *
Our final trend is highly relevant if you’re ready to sell soon. Did you know that spring is one of the busiest times of the year in the property market? Therefore, selling your home now means it is likely you will be in for a quick sale and achieve a top price for your home. ***
Whether you’re hoping to find your dream property or take advantage of the rising demand, we’re here to advise you.
Contact us today to book a valuation or discuss your options.
*TLA
**According to Which?
*** Rightmove
This article was originally published by BriefYourMarket and is reproduced here with their permission.
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