Buyer Demand Remains Higher for Houses Than Flats Across England Due to Covid
Covid-19 continues to fuel demand for larger homes and more outdoor space across every county in England according to recent research by PropCast, with three-bed houses the most desirable and one-bed flats the least.
The findings from the house selling weather forecast analysed buyer demand across England to see what percentage of houses and flats for sale were being snapped up, and how that differed between the number of bedrooms.
PropCast has found 73 per cent of houses for sale are under offer or subject to contract – substantially higher than the figure for flats (43 per cent). Houses are the most sought after with the top five counties being: Bristol (83 per cent); Dorset (81 per cent); Hampshire and West Sussex (80 per cent); Northamptonshire and Bedfordshire (79 per cent); and East Sussex, Essex, Suffolk, Devon, Cornwall and Somerset (78 per cent). London has the least amount of houses under offer or subject across England (56 per cent), but this is still larger than the sale of flats (35 per cent).
On average, three-bed houses are in most demand with 76 per cent for sale under offer or subject to contract, followed by two-beds (75 per cent), four plus-beds (69 per cent) and one-beds (62 per cent).
Meanwhile, one-bedroom flats are the least desirable at 44 per cent – most likely due to not having a garden and with limited space indoors – along with three-bedroom flats. In terms of flats overall, two-beds are the most popular (50 per cent), followed by four-plus beds (39 per cent).
Gavin Brazg, founder of PropCast said: “Over the last year, we can see buyer demand has grown to record high levels across England, and we don’t expect this to peter out anytime soon. However, it’s clear to see that if you’re trying to sell a flat at the moment with minimal to no outdoor space, it is going to be harder to find a buyer quickly. My advice would be to look at the situation as if you are in a buyers’ market, which is a time where you have to change your selling strategy in order to achieve the best possible price and fast. The best way to strengthen your position is to price conservatively from the start and choose a local, trusted estate agent who truly knows the market and how best to position your home within it.”