Prime Resi, 15/06/2023

‘Projects are back on the agenda’: Buying agency flags seven key property market trends

Quoting Charlie Rearden, Anto Clay, Emma Barkes, Louise Riding and George Barkes of Stacks Property Finders

Downsizing is on the up:
Charlie Rearden of Stacks Property Search in Rutland says, “Lots of older generation homeowners who stayed put to house their extended families during the pandemic are finally putting their downsizing plans into motion. They want well-insulated homes that are cheaper to run, with less outside space. There’s a plethora of draughty old rectories on the market – more than I’ve seen for years. Bad EPCs and the high cost of living are taking their toll.”

Gardens and land:
Anto Clay of Stacks Property Search in Monmouthshire says, “Demand for pony paddocks is high –  not just for ponies, but for anything from alpacas to mini rewilding projects to wild flower meadows; and of course for the reassurance that nobody will build adjacent to their property.”

‘Forever’ homes:
Emma Barkes of Stacks Property Search in the Cotswolds says, “Moving house has become exponentially more expensive and more difficult so the younger generation making their first move out of London are determined to find property that will suit them and potentially expanding families in the long term. While they may be buying more house than they need in the short term, the numbers look more favourable when they factor in the high cost of another move, especially for those trying to upsize once they have young children.”

Pret à habiter:
Anto Clay says kit houses and cabins have come of age. He says, “Flat-pack homes are cost-effective, the construction process is streamlined and efficient; most are designed with energy efficiency in mind; many are sustainable and environmentally friendly; and they are subjected to strict standards and inspections during the manufacturing process. The choice is wide, so it’s essential to research and consult with professionals to ensure that your chosen kit house is suitable for your specific needs and location.”

What’s the EPC rating?
Louise Ridings of Stacks Property Search in the East Midlands says, “Nobody used to pay any attention at all to EPCs, but today’s buyers are all over that little bit of small print. A year of high oil prices has taken its toll; buyers are concerned about insulation and running costs and they’re concerned about resale values and difficulties. And investor buyers are particularly worried.” 

Goodbye bi-fold, hello Crittall:
George Barkes says, “Massive bi-fold doors that take up entire walls have had their day and are being replaced with striking Crittall-type industrial-style metal doors. Externally they offer a modern approach that sits well with many property styles, while internally they’re a great way of making large open-plan spaces flexible without compromising on light.”

Projects are back on the agenda:
Louise Ridings says, “Demand for projects fell like a stone during 2022 as the cost of building supplies were on the rise and tradespeople were hard to find. But the dream of a tumbledown cottage in a secluded valley is back, and ‘properties with potential’ is the search term on many buyers’ fingertips.”

This detached two bedroom cottage set in its own 28 acres of land near the north Cornish coast would make a wonderful project, large or small. £995,000 through John Bray Estates, www.johnbrayestates.co.uk.

https://johnbrayestates.co.uk/properties-for-sale/little-trewithen-farm-detached-north-cornwall-5376/

 

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