It’s always interesting to know where your property sits in terms of popularity in the UK. Maybe you think your home is one of the most popular in your area, or maybe you feel that it’s unique and one of the less popular types, maybe you want it to be the most popular or maybe you’d prefer to be in the minority. Either way we’re taking a look into the different types and sizes of properties and how their popularity varies across the UK.
It’s interesting to understand how popular different types of properties are but also how popular purchasing a property still is, despite the shift towards ‘generation rent’. There are a number of reasons and needs as to why people are still choosing to purchase homes from the inherent need for belonging to the security that home ownership brings.
The needs that properties fulfil are often very different for people and it often depends on where they are in their life and also their property journey. Needs are also constantly changing, someone’s property needs when they are a young single homeowner is likely to be quite different to a family with children and again, to those with children flying the nest.
When looking to purchase a home everyone has different needs, whilst some people are able to choose their ‘dream home’, some need to compromise on what they can afford that best suits their needs. The four main property types are flats, terraced, semi-detached and detached properties, and a look at the UK landscape as a whole reveals that the most popular home is currently semi-detached properties and they make up just over 30% of the total national housing stock.
When it comes to bedroom sizes it’s no surprise to see that the majority of people in England and Wales live in a 3 bedroom property whilst figures also show that across this area nearly 80% of all people live in a house compared to just over 20% residing in a flat. However, how do these figures change when looking in more detail at England and Wales?
As previously mentioned, in England and Wales the most popular property type is semi-detached which makes up 31.4% of the total housing stock. The popularity of this type of property is reflected in the average price which is currently £252,600. The second most popular property type is terraced and the third is detached. It may be surprising to see that the least popular property is actually flats and their average price is £301,700. The most popular number of bedrooms in England and Wales is three.
Property trends are always changing and as there is a movement towards living in a more environmentally friendly way it is likely to see the trend of properties getting bigger to actually revert and see a demand for smaller more economically and environmentally beneficial properties increase. Whilst we can’t predict the future we are confident that what types and sizes of properties that are currently popular in England and Wales are unlikely to stay the most popular for long.