More residential property developers are expecting to build ‘family’ homes - three or more bedrooms - rather than first-time buyer properties in the 2010s, according to research conducted by property specialists, movewithus.
The research study, which questioned residential property developers across the UK, reported that 64% of developers are expecting the level of development of larger properties to rise significantly compared to just 39% who expect the level of development for first-time buyers to rise by the same increment in the next decade.
At the same time, 69% of developers are expecting the development of ‘banker pads’, such as penthouse apartment properties, to fall.
Robin King, movewithus director, commented: “If the Noughties were characterised by the rise and fall of two bed apartments, then the current decade will be seeing the same sense of reality returning.
“Developers have reacted to the changing demographics and are starting to build what is required to live in, rather than what some people thought they could make a quick investment buck on.”
Date: 8th, February, 2010
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