Race For Space puts premium on detached houses

Detached houses are the most popular type of property for those who have moved homes in the past year. 

The Halifax says the proportion of people moving to detached homes grew from 25 per cent to 32 per cent in the last 10 years, as buyers sought out more space.

The Halifax Home Mover Review 2023 also reveals that semi-detached homes accounted for 28 per cent of home sales in the last year, followed by terraced with 21 per cent, flats on 12 per cent and bungalows on a surprisingly-high seven per cent. 

“The growing popularity of detached homes reflects a desire or need for more space. With many businesses continuing to embrace hybrid working, we’ve seen people take the opportunity to find homes that better suit their lifestyles in locations that might not have been practical with a daily commute to consider” says Kim Kinnaird, mortgages director at Halifax. 

“It is also true that detached homes often come as a later step on the housing ladder for many and, when the opportunity arises, families will choose a home that gives them space to settle and grow over a longer period – a ‘forever home’, which will be a more flexible space for their changing needs and lifestyles.”

The number of home moves recorded in the first half of 2023 was 112,459 – the lowest number recorded by the Halifax Home Mover Review. This also represents a 30 per cent fall on the previous year. 

First time buyer numbers fell too. In the first half of the year some 121,712 first-time mortgages completed - a third below the previous year. However, first-time buyers now make up 48 per cent of home buyers in the UK, compared to 38 per cent in 2008.

The average age of a UK home mover is now 39, a year younger than 12 months ago, and two years younger than in 2013. Movers in London are, on average, the youngest at 38, while those in Northern Ireland are the oldest at 41.

“The fall in the average age of people moving home could have several causes, including more younger movers opting to move to suit their lifestyle and work arrangements. Alternatively, older movers may be choosing to improve and extend their current homes rather than move, or delaying moves to maximise their equity before downsizing” says Kinnaird.

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