A Growing Demand for Suitable Family Homes
Changes to the needs of buyers are affecting the type of properties that are being built in this country, with less demand for flats and more people looking for family homes, according to the latest industry figures.
A report released by the Home Builders' Federation has highlighted that between 2008/09 and 2015/16, the number of bedrooms built in new properties rose from 385,000 to 478,000.
Growth in Family Market
This data shows that more home-buyers are now searching for larger properties, such as those with a balconette and a steel balustrade - perhaps because many of them are putting off buying their first property until later in life when they are more likely to be with a partner and thinking of starting a family.
In 2008/09, 50% of the total number of new homes that were built were flats, but this dropped to only 25% seven years later. Over the same period, there was a rise from 80,000 to 120,000 family houses built, and the average size of properties increased by around 15% to 918 square feet.
Positive Approach
The information included in this latest report shows how the housing market is enjoying a more positive period following the downturn suffered during the financial crisis, which resulted in a fall in house-building activity. Since the market turned the corner, developers have been increasing the number and variety of properties that are being built in order to meet the demand from buyers.
The change to building larger properties, including those with additional bedrooms and balconies with a steel balustrade, makes the increase in numbers even more positive and shows how government policies have adapted to suit the changing needs of homeowners.
Planning in the early 2000s focussed heavily on building high-density developments on urban brownfield plots, but the distinct lack of suitable family homes made a shift necessary. With the introduction of more positivity into the National Planning Policy Framework and the success of the Help to Buy Equity Loan programme, the industry can now match its developments to the type of homes that buyers want to purchase, which has resulted in a large increase in the number of suitable properties.
This process needs to be continued to help fill the shortage of homes in the UK, and by addressing issues in the planning system and creating a more positive approach to developments, this momentum can be maintained.
A Growing Demand for Suitable Family Homes
Changes to the needs of buyers are affecting the type of properties that are being built in this country, with less demand for flats and more people looking for family homes, according to the latest industry figures.
A report released by the Home Builders' Federation has highlighted that between 2008/09 and 2015/16, the number of bedrooms built in new properties rose from 385,000 to 478,000.
Growth in Family Market
This data shows that more home-buyers are now searching for larger properties, such as those with a balconette and a steel balustrade - perhaps because many of them are putting off buying their first property until later in life when they are more likely to be with a partner and thinking of starting a family.
In 2008/09, 50% of the total number of new homes that were built were flats, but this dropped to only 25% seven years later. Over the same period, there was a rise from 80,000 to 120,000 family houses built, and the average size of properties increased by around 15% to 918 square feet.
Positive Approach
The information included in this latest report shows how the housing market is enjoying a more positive period following the downturn suffered during the financial crisis, which resulted in a fall in house-building activity. Since the market turned the corner, developers have been increasing the number and variety of properties that are being built in order to meet the demand from buyers.
The change to building larger properties, including those with additional bedrooms and balconies with a steel balustrade, makes the increase in numbers even more positive and shows how government policies have adapted to suit the changing needs of homeowners.
Planning in the early 2000s focussed heavily on building high-density developments on urban brownfield plots, but the distinct lack of suitable family homes made a shift necessary. With the introduction of more positivity into the National Planning Policy Framework and the success of the Help to Buy Equity Loan programme, the industry can now match its developments to the type of homes that buyers want to purchase, which has resulted in a large increase in the number of suitable properties.
This process needs to be continued to help fill the shortage of homes in the UK, and by addressing issues in the planning system and creating a more positive approach to developments, this momentum can be maintained.
