Families seeking larger homes will find good news, as the average agent outside London now has twice as many 4+ bedroom homes available compared to February 2022.
The availability of 3-bedroom homes, which consistently rank as the most sought-after property type, has also improved, with a 25% increase compared to last year.
Currently, 50% of buyers search for homes with specific features in mind, and the current housing supply is favouring external features. For instance, the supply of homes for sale with external space, outbuildings, and annexes has surged by over 70%. Additionally, there is an 86% increase in houses available with parking and a 63% increase in houses available with a garage compared to February 2022.
One of the reasons these properties are in higher abundance could be because people are struggling with the cost of living and downsizing their properties.
Nowadays, more people prioritise energy efficiency and EPC ratings to save money. Buy-to-let investors can take advantage of this by considering buying off-plan new-build properties. This accommodation type usually has energy-efficient features that help tenants save money. Due to their eco-nature and less chance of things breaking for a few years, these properties also command a higher rental cost, increasing potential yields. This helps answer questions such as; is now a good time to invest?
If you are interested in making money in property, these properties are often found in advantageous locations for capital appreciation, typically in areas like the Baltic Triangle and Liverpool’s Northern Quarter amid comprehensive regeneration plans. Over time, these areas will become sought-after places to live, attracting businesses and amenities, thus improving the postcode’s average rent and property prices.
Senior Property Researcher at Zoopla, Izabella Lubowicka, said: “The current spring boost in supply on the market gives potential buyers more choice than ever, but affordability continues to impact budgets. Sellers putting their homes on the market need to keep that in mind and ensure they are pricing their property realistically to achieve a sale.”
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