UK estate owners with compact homes take note: your smaller property may be very attractive to today's homebuyer.
According to the Buy Association, interest in semi-detached and terraced properties has risen significantly in the second quarter of 2018, accounting for nearly 55 per cent of the total UK property sales market during that time frame. Statistics show modern Britons, once admirers of detached homes are now downsizing their housing requirements, leading to an increase in sales of smaller homes.
Housing Sales By The Numbers
The Buy Association figures show some interesting trends in regards to overall UK home sales over the past year. Among the statistics they've reported:
• The sale of flats have decreased by 8 per cent, to a total of about 31,000 overall sales
• Detached homes have also decreased by 12 per cent, to 35,000 sales
• Terraced home sales have risen 8 per cent, to nearly 61,000 total sales
• Semi-detached home sales have risen 6 per cent, accounting for nearly 55,000 total sales
Smaller Homes Offer Many Attractions
In addition to being a great asset, smaller homes have many attractive features that UK homebuyers are looking for. Some reasons a UK home buyer might purchase a smaller home include:
• They're easier to maintain. Smaller homes require less maintenance and upkeep work which can save homeowners thousands of pounds in repairs.
• They have a less environmental impact. Many environmentally-minded Britons find smaller homes attractive because they have less impact on the environment -- they require fewer resources to build and leave a smaller environmental footprint.
• They are mentally freeing. Smaller homes give less room for acquiring unneeded or unnecessary items. Many homeowners, especially the minimalist-minded, find this aspect mentally freeing -- after all, the less we own, the less our stuff owns us.
Take That Next Step
Selling your small home can be lucrative in today's property market. If you're interested in selling your home with the help of an estate agent, the internet estate agents at Doorsteps can guide you through the process. To learn more or to take that next step, visit our website today.