Semis are the bestsellers
May 3rd, 2013

The most popular houses by far in the current market are three and four bedroom semi detached homes.  The poor terrace house has taken a battering in terms of popularity in the local area for first time buyers.  The investment market for terrace houses is relatively strong but as you would expect investors are looking for decent returns on their investments.  Typically a potential landlord will pay in the region of £50 – £60,000 for a good terrace house.

There are buyers for the better and more expensive terrace houses but many of the potential first time buyers in today’s market are financially able to skip out the terrace market altogether and go straight for the three bedroom semi – prices ranging from £100,000 upwards.  These buyers are obviously well financed, may well have the backing of family members and are able to enter the market further up the ladder.

There are still hundreds of potential first time buyers out there armed with ten per cent deposits who are still being rejected by banks due to restrictive lending criteria.  If they were released into the market, it would be a different story but for now, semis are the bestsellers.

 

Christopher Pooler

May 2013