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Thu 06 Aug 2015

Three bedroom bungalows are the most sought after

New research conducted amongst independent estate agents around Britain has revealed that three bedroom bungalows are most in short supply due to being the most highly sought after.

The survey conducted by Move with Us, home of independent estate agency has shown that bungalows are the property type that’s most in short supply at 40%. This was followed by semi-detached properties at 24% and terraced homes at 16%.

Further to this, three bedroom homes are by far in most short supply at 63%. This was followed by two bedroom homes at 26% and four bedroom homes at 4%.

Simon King, Managing Director of the Move with Us Partner Network commented: “The age of the first time buyer has been increasing over the years and with the 5% deposit brought about by the Help to Buy scheme, many home buyers are now opting to purchase three bedroom properties as their first home. They’re skipping the first rung of the property ladder, forgoing the starter home and moving straight into a property they can grow into.

There are also those second steppers that until recently were stuck in starter homes due to the drop in equity the financial crisis caused. Often this type of home mover will also be looking for a three bedroom property.”

*From a survey of over 120 independent estate agents across Britain.

SOURCE: Move with Us

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