Poor stock levels mean single buyers face uphill battle Mortgage Strategy

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Research from eXp UK, reveals that three-bedroom homes are the most commonly available properties on the UK’s housing market, but that anyone looking to either upsize or downsize could struggle due to insufficient stock levels.

The platform for estate agents, analysed current residential property listings for sale across the UK and segmented the available properties by the number of bedrooms they offer to see what size of property is most readily available across the various regions of the country.

The research shows that of the 686,606 homes currently for sale on the UK market, three  bedroom properties are the most prominent, accounting for 35.1% of all listings.

In comparison two-beds account for 28.8% of market stock, while four-beds make up 17.8%.

When it comes to one-bed (8.8%),five-plus bed (7.2%), and studio flats  (2.3%), scarcity levels increase.

On a regional level, three-bed homes are the most common across nine of 11 British regions, with the highest regional proportion found in the East Midlands where they account for 43.1% of available stock.

Only London and Scotland go against the grain when it comes to availability of property stock and in both regions it’s two-beds which are most readily available.

For buyers who are looking for a studio home, their best chance of finding an appropriate property comes in Scotland where they currently account for 4.5% of available listings.

1-bed buyers are advised to search in London where they make up 19.6% of listings, and the capital is also home to the highest regional proportion of 2-bed properties (36.1%).

For the best chance of finding a four-bed home, head to the East of England where they make up 21.1% of the market.

And if you’re in need of a home with five beds or more, the South East offers the best level of stock at 8.3%.

Head of eXp UK Adam Day, comments: Three-bed homes are the perfect match for many first-time buyers. They provide a bed for the parents, a bed for the kid, and then a spare room for guests or office use. House builders are aware of this so they make sure to keep the market well-stocked with properties they’re confident will be met by high demand”.

But as a consequence of this, Day says there’s a good chance that homeowners will be trapped at this three-bed level. For those who need to upsize, 4-beds account for as little as 11% of listings, while five-plus beds seem to be incredibly scarce.

But also those who want or need to downsize could be facing a tricky challenge with stock levels depleting as homes get smaller

“This also creates a difficult environment for single first-time buyers who only need, and can often only afford, a one-bed home with which to get a foot on the ladder”.

He adds: “We want to encourage downsizers, in particular, in order to free up larger homes, we need to have an appropriate level of stock to tempt them with in the first place.”


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