Research from several property websites, including Zoopla and Rightmove, indicates that two-bedroom houses are selling faster than larger properties. In London two-bed terraced homes have sold quickly and consistently over the last few years. With that being said, other areas of the UK are now starting to show the same trend, especially in the East of England. In London, two-bedroomed properties are selling in 25 days or less. There are several reasons for this shift in consumer behaviour too.
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Two-Bedroom Properties are More Affordable
Two-bedroom homes are appealing to a huge range of buyers, and they are also highly affordable. When you look at rising interest rates along with steeper borrowing costs, people are being pushed into buying smaller homes. Two-bedroom homes are also very appealing to a range of buyers. They are good value for money and one of the best investments for those who want to buy an investment property. If you talk with any property agent in London, and ask them for advice, they can help you sell or you can take your chance on the market.
Companies that buy houses will often give you a fair rate for the home and allow you to move into another home chain-free. This is often the best way to get the edge in a competitive market and ideal if you want to sell your house fast. You will also be given a cash offer, which, if you’re selling an inherited property, is often the best way to get the money you want quickly. This eliminates the risk of waiting to find a buyer, which is useful in saturated buyer-driven markets.
If you take your chance on the market, you should know that although two-bedroom homes are selling well, four-bedroom homes are sluggish right now, especially in London.
Why Are Four-bedroom Houses Seeing Slower Sale Times?
One reason why four-bedroom houses are seeing slower sale times is that not many people need a four-bedroom home. Many people are also performing attic conversions in their three-bedroom homes in an attempt to skate around increasing mortgage rates. On top of this, although four-bedroomed homes often see a lot of interest in property search results, they don’t often boast a lot of outdoor space. Those that do tend to go for way more than people can afford, especially in places like London. Even though four-bedroomed homes are selling faster in cities such as Manchester, due to the cost of living being more affordable, it is an interesting trend to take note of.
Even though two-bedroomed properties are selling faster right now, those who want to look into investment properties shouldn’t sleep into four-bedroom investment opportunities. Older homes that need some TLC could still be worth buying, as they pave the way for future income. With the demand for four-bedroom houses being lower right now due to the economy, it’s a wise decision. The two-bedroom house trend in 2024 likely won’t last long either, as growing families tend to move up over time, meaning that this is likely a short-lived trend in terms of property growth. We’re also likely to see a boom in three-bedroom houses over the next 2-3 years, as people convert and upgrade their homes, and new trends hit the market.
