If you are anything like me, the new year is a welcome time to reset. A time for clear thought and setting out the stepping stones for how I want my year ahead to progress. Within my business, I know very well that festive breaks at home, or away, often bring forth a ‘reset’ involving redecorating, extending, or indeed moving house for many homeowners.
If this is the case for you, I wonder whether an influencing factor is to live in a detached property. A recent study conducted using Land Registry data has shown that during 2023, demand for detached property increased by 3.7%, while that of terraced and semi-detached decreased by -1.5% to -3%.
To put this into perspective, 900,000 property transactions took place across England and Wales in the 12 months up to November 2023. At the beginning of this period, semi-detached property accounted for 28% of sales, and detached property 22%.
This evolving change in statistics is interesting and leads to greater questions: Is it purely a desire for more space and privacy, OR are we seeing a more positive economic turn? Monitoring over the coming months, which does look optimistic, may answer these questions.
As always, my line is open to you at any time. If you have thoughts of moving, it is never too early to understand the positioning of your property on the market, and what preparations you may consider that would benefit your journey moving forward.
If you are seeking advice and support regarding your property goals, call us ANYTIME on 01953 665 785 or send a text or WhatsApp on 07923 236 076. For interesting news and tips, follow us on Instagram and Facebook. Visit: ewemove.com/instant-valuation.