At the beginning of 2002, 35% of searches on SmartNewHomes’ website were for apartments, whereas data from the latest October survey shows this figure has increased to 47%. In stark contrast demand for detached homes has fallen from 48% at the beginning of last year to 38% in October 2003.
Demand for penthouses, terraced and semi-detached homes, has remained broadly stable over the period in proportionate terms. Luxury penthouses account for only 0.5%, terraced houses 5% and semi-detached 10% of searches for new homes.
David Bexon, Chief Executive of SmartNewHomes says: “This highly revealing changing patterns in demand for new homes is setting the stage for the future of housebuilding in the UK. Although previously detached houses were the most common property being built this trend is likely to change in the future due to these important shifts in consumer demand.”
SmartNewHomes.com which represents over 50% of all housebuilders has the strong position in being able to monitor changes in demand by house type and region. SmartNewHomes is due next week to publish its inaugural survey on demand for new homes, including migration patterns across the UK.
For further information on SmartNewHomes visit www.smartnewhomes.com or email: [email protected]
