New research has revealed the most in-demand new-build property types in the UK. Terraced properties with parking and gardens scooped the top spot with 41 per cent of the nation’s demand.
Narrowly missing out on the top spot were semi-detached properties with 40 per cent of buyer demand while detached properties were the third most popular with 32 per cent.
The top three property types reflect the changes in buyer demand following the pandemic as the series of lockdowns saw buyers craving larger homes with private outdoor areas.
At the bottom of the table in the new research were flats with 28 per cent of the demand.
Despite being the least popular at the moment, the researchers note that flats were the only new-build property type to have seen demand increase in the past year, rising by 1 per cent while all other property types fell by -4 to -5 per cent.
The results of this latest research from property management firm Warwick Estates were calculated by measuring the number of new-build homes currently listed on the market against the number of those that are already under offer or sold subject to contract (SSC). For example, if there were 100 properties and 50 of them were already under offer or SSC, demand would be measured as 50 per cent.
In London, the pattern was very similar but this time semi-detached properties were the most in-demand, followed by terraced properties (37%), detached properties (30%) and flats (21%). Unlike the wider UK, nearly all property types in London have seen a demand increase in the past year – with semi-detached homes seeing the highest increase of 30 per cent. The only property type loser in the Capital was detached homes, which experienced a four per cent fall in demand.
As for the most in-demand new-build property features, parking spaces scooped the top spot with 37 per cent of the demand, followed by a garden (34%) then properties sold through buying schemes (17%). This order of property feature preferences was also mirrored by London buyers.
Overall, demand for buying scheme new-build properties has declined by -25 per cent in the past year in the UK and by -2 per cent In London. Warwick Estates researchers say the likely reason for this fall was the end of the government’s Help To Buy scheme which closed in May 2021. It has since been replaced by a new, similar buying scheme that can only be accessed by first-time buyers rather than anyone who wants it.
This latest research shows space is still the driving feature behind property purchases since the pandemic as people hunt for homes that suit their new post-lockdown lifestyles.
