Family Homes Are Needed In The Marketplace

May 10th 2021
By: Intercounty
Family Homes Are Needed In The Marketplace

The significant level of demand for homes has created a situation where family homes are in significant demand. With buyers looking for more space, these properties have been snapped up quickly, meaning that many buyers have missed out.

The number of family houses listed for sale has reached a five-year low, according to Zoopla and their most recent House Price Index.

Four-bedroom properties are needed

The number of four-bedroom properties listed for sale has dropped by 20% in the year-on-year comparisons. Another change sees three-bedroom properties now accounting for 25% of all listed properties whereas in 2017, this style of home accounted for more than 33% of all listings.

Taking all the properties listed for sale into account, houses now account for 59% of all listings, and this is a sizable from the 76% in 2017.

Buyer demand is up, which might be good news for homeowners looking to sell

It shouldn’t be a surprise to learn that the appetite for homes from property buyers is up by 27.5% compared to the average levels of 2020.

Therefore, if you are thinking about selling your home, this is likely to be one of the best times to do so. This is what is referred to as a “sellers’ market”, but even with these circumstances, you need help to connect with buyers.

At Intercounty, we bring vendors and buyers together. Even though demand far outstrips supply, we will make sure that your home stands out for all the right reasons.

Grainne Gilmore, head of research at Zoopla, said: “The imbalance between supply and demand, which is creating a very tight market for family homes, will start to ease in the near term as homeowners becoming increasingly comfortable opening their homes to viewings, in turn building supply of new stock. The scale of buyer demand will also moderate from the peaks seen after Easter as lockdowns end across the country and there is some return to pre-pandemic normality.”

However, Gilmore believes that a notable imbalance will remain in place, and prospective buyers will still look for space when buying property. With a lot of companies expected to confirm that remote working will remain in place, the need for home-office space will be ever more pressing.

The top three takeaways provided by Zoopla are:

  1. The supply of family homes for sale has hit a five-year low

  2. The number of four-bedroom homes on the market has dived by more than 20% year-on-year in all regions of the UK, with Scotland seeing a near-60% fall

  3. The supply of three-bedroom properties is also down across the board, with northern regions the most affected

If you have any questions about the housing market, or you are keen to move on and need guidance, we can assist you.

For all property services, please feel free to call us on 01279 757250 or why not check out our instant valuation service by clicking here. With considerable experience in the local property market, and free valuation services, we look forward to helping you make your next move in style.