Sixty-four per cent of estate agents across the South West are experiencing a shortage in the number of bungalows currently available for sale. This is followed by semi-detached properties, with 60% of estate agents believing there is a deficit.
The research, which was conducted by CLIFFTONS, in conjunction with Move with Us also found there is a shortage of two and three bedroom properties in the local market.
The research also showed that three bedroom semi-detached properties have sold the best in the last six months in the local area. Forty-four per cent of agents agreed semi-detached were the most sought-after properties.
James Scollard, Proprietor of CLIFFTONS commented: “The age of the first time buyer has been increasing over the years and with the 5% deposit brought about by the Help to Buy scheme, many local home buyers in the South West are now opting to purchase three bedroom properties as their first home. They’re skipping the first rung of the property ladder, forgoing the starter home and moving straight into a property that they can grow into. Bungalows are as popular as ever popular with downsizers and have also increased in popularity with first time buyers and second steppers, making them more sought after in the current market.”
The research was conducted by Move with Us, the UK’s largest network of independent estate agents, with over 1,100 branches Nationwide.
Clifftons Estate agents are the exclusive member for the Bournemouth Town Centre Area, if your looking to instruct an Independent Estate Agent with access to the National marketplace, then call Clifftons today.
Posted: 16th July 2014