In 2018, the average size of a new build property is 67.8 square metres, and this is a fall of 4 square metres on the 2010 size. There has also been a fall in the average number of bedrooms in new build homes in the United Kingdom. Back in the 1970s, there was an average of 3.53 bedrooms in a new build property but today, there is an average of 2.6 bedrooms in a new build property.
When you consider the market and commercial demands, this probably isn’t a surprise. After all, developers will see making smaller homes as an opportunity to make the most of their land. There is only a set amount of land that a developer can build on for each project so if they are looking to maximise the amount of homes they can build, and therefore sell, they will want to make each home smaller. You may not think that a few square metres per home is going to help but when you consider the number of homes that are being built, these small savings add up and it may allow developers to build an extra property or two on the land.
Developers are keen to maximise their profit
This could be all the difference in generating a satisfactory level of profit on a project, so it is natural that developers will consider this action.
There is also the fact that planning departments are keen to see developments that offer a higher level of density. With so much talk about the demand for project, there is a desire to create as many new homes as possible in each project, and smaller sized homes can assist with this. Sometimes there will be objections to projects that offer very small homes, or which try to cream too many homes into an area, but you can see why there would be a desire to create as many new homes as possible, and this has driven the change in the marketplace.
Some buyers appreciate small new build homes
For many people, smaller homes aren’t an issue. First-time buyers and couples looking to downsize may find that new build homes meet their needs perfectly. However, people with a need for larger homes may not find new build homes to be acceptable, but this is where vendors can take advantage of the changing nature of new build properties.
If new build properties don’t meet the needs of many buyers, there is a greater chance that homeowners can sell their property. A lot of households are looking for larger sized properties to house their family or hobbies and interests. Any homeowner that has additional rooms should promote this fact as there are many people who need this style of home.
If you are looking to sell your home, contact Oaks Estate Agents and we will be more than happy to assist you. We’ve helped many Streatham homeowners sell their property and we look forward to helping you.