It’s no secret, the cost of living is biting hard and Brits are looking for ways to save. For many, that means downsizing – and bungalows are suddenly the hottest property on the market.
Why Everyone Wants a Bungalow
Bungalows are cheaper to run. Heating a single-story home is a lot more affordable than a two-story house, especially with energy bills skyrocketing. And that’s a big deal for many families struggling to make ends meet.
They’re perfect for older folks. No more stairs to climb! For those in their later years, a bungalow offers comfort, safety, and lower running costs.
Bungalows are Flying Off the Shelves
Regency Living’s latest figures show a massive demand for bungalows:
- 42% of all bungalows listed for sale across England have already been bought!
- London leads the pack with 46% of bungalows snapped up.
- The North East is close behind with 45% of bungalows sold.
That’s a LOT of people wanting a bungalow!
The Big Bungalow Problem – Not Enough to Go Around
While everyone wants a bungalow, there aren’t enough to go around. Bungalows make up only 1 in 10 homes currently for sale across England.
London is especially bad: only 2% of homes for sale are bungalows.
This means if you’re looking for a bungalow, it’s a seller’s market, and you’ll need to be quick!
Where to Find a Bungalow
If you’re determined to find a bungalow, here are the best spots:
- East Midlands and East of England: These areas have the highest number of bungalows for sale, with 14% of homes being single-story.
- South West and Yorkshire: These areas also have a higher-than-average number of bungalows for sale, with 13% and 12% respectively.
Don’t be afraid to venture outside the big cities to find your perfect bungalow!
What Can Be Done?
Regency Living says we need more bungalows built:
- They’re building more bungalows in their parks to meet the demand from older buyers.
- They want to see more new bungalows built across the country to help solve the housing shortage and allow more people to move up the property ladder.