The family homes market in the UK has a spring in its step
The UK housing market has a spring in its step thanks to families getting ready to make their move.
Data from Rightmove shows that sales of three- and four-bed homes are outperforming other types of property.
Price rise bucking trend
Meanwhile, the price of family homes has risen by 0.7 percent on average year-on-year, while the national average for all properties has actually fallen by 0.1 percent.
Rightmove, the biggest online estate agent listings site, also says bigger homes are more likely to come on to the market and sell compared to a year ago.
Only four-bed detached properties are failing to outperform other types of properties, indicating that affordable family homes are prized most right now.
Delayed a move
Miles Shipside of Rightmove said:
“Properties in this middle sector offer the ideal escape route to families looking for more bedrooms, more space and their choice of schools.
“They are often second-steppers outgrowing their first property, and it gets harder to postpone a move with growing children.
“They may have already delayed for a year or two waiting for Brexit clarity, and understandably their patience is wearing even thinner than it is for the rest of us.
“While some movers are awaiting the outcome of deal or no deal, many families are keeping on dealing in the housing market.”
More certainty for buyers
The extension to Brexit to October means that the housing market’s busiest time will be unencumbered with discussion of how and when the UK leaves the EU and allow home buyers to make a decision on their future property without the uncertainty of the last two years.
Miles Shipside said:
“This extension could give hesitating home movers encouragement that there is now a window of relative certainty in uncertain times.”
Kindly shared by Homeward Legal