The shocking property kind that’s main the way in which in home value progress

Analysis by park dwelling promoting specialists Quickmove Properties, has revealed that in the case of the property kind to have carried out greatest over the past yr, park houses have crushed the remainder of the housing market with the best annual price of home value appreciation. 

Quickmove Properties analysed the common (median) worth of every property kind throughout the UK market thus far in 2023 and the way this present common compares to final yr. 

The figures present that thus far this yr, the common value of a park dwelling has climbed by 5.8% when in comparison with the common value paid in 2022, considerably larger than the 0.9% improve seen throughout the broader bricks and mortar housing market. 

When breaking the broader market down by property kind, park dwelling value appreciation stays the strongest of all property sorts. In actual fact, simply indifferent houses come shut, having seen a 2.5% improve within the common value in 2023 versus 2022.

Semi-detached houses have elevated by simply 1.3%, the common value of a terraced dwelling has remained largely static (+0.1%), whereas the worth paid for a flat has fallen by -0.8%. 

However it’s not simply the speed of home value progress already seen this yr the place park houses have outperformed the remainder. 

The analysis by Quickmove Properties exhibits that park houses additionally outperformed the bricks and mortar market in the case of the annual price of progress seen between 2021 and 2022. 

Final yr, the common bricks and mortar home value boomed by 11.4% because the pandemic property market growth was in full swing. The race for more room noticed indifferent houses put in the very best efficiency, climbing by 12.7%, adopted by semi-detached houses (+12.4%) and terraced homes (+11.8%).

Whereas flats had been much less standard, the common value of a flat nonetheless climbed by 6.8% when evaluating 2022 to 2021. 

Nonetheless, with trendy residential park communities positioned in spacious rural and coastal settings, and providing ‘socially-distanced’ indifferent properties, the sector noticed the common park dwelling home value climb by 13% between 2021 and 2022.

Gross sales Director at Quickmove Properties, Mark O’Dwyer mentioned, “Park houses not solely stay one of the reasonably priced property sorts available on the market, however they’re additionally placing in probably the most resilient efficiency within the face of wider financial uncertainty.

Having lead the sphere the place home value progress is anxious through the pandemic market growth, they proceed to take action in 2023, regardless of the speed of home value progress now beginning to cool. 

This market-leading efficiency is basically all the way down to the actual fact they provide trendy, bungalow-style luxurious for a value level that’s engaging to discerning silver downsizers.”