The price of the average British home has increased dramatically over the past decade, accelerated in part by the pandemic. This has led to a great deal of discussion within the market, particularly about how first-time buyers are expected to keep pace with this increase. While there are certain and small examples of dips in value (the average value of a home dipped 0.05% in 2023), it seems that the housing market is set to become more impenetrable to those wanting to own their first home.
There are also a number of other trends taking place, with one of the most recently established being a legacy trend of the pandemic, which is the significant demand for outdoor space. Now, buyers are poised to seek out properties that allow them to enjoy the most amount of private outdoor space their budget can afford. While this is placing garden properties in prime position for sale, it is also encouraging a greater shift of residents from within urban areas and toward rural locations, where the square footage of a home, especially outdoor space, is more reasonably priced.
As 2024 gets underway, experts are examining housing market trends, as well as property preferences, and seeking to establish what we can expect for the year ahead.
Professional & Personal
As remote working positions become increasingly ubiquitous, the need for residential homes to accommodate professional working spaces is apparent. Properties that properly established such a space, like those with log cabins or attic conversions, are seeing their performance on the market and inherent value rise.
This trend is also leading to a shift in language surrounding properties too, with less emphasis being placed on spare rooms and family-sized homes, emphasis that is, instead, steered toward teleworking and home office potential.
Wellbeing In Design
When asked about their preference for rural living spaces, there are a number of reasons most often shared, such as access to nature and escape from urban stressors. One of the most common reasons for moving to the countryside is, however, wellbeing.
This preference for wellbeing and happiness within the home is changing the housing market in a number of ways. Outdoor space is the most obvious outcome but other aspects, such as natural lighting and security, are increasingly apparent too. Homes that are also situated near to community activities, such as yoga studios, or natural landscapes, such as lakes and the sea, are also perceived to be more valuable as wellbeing becomes more important for buyers.
Colourful Homes
In an interesting turn of events, one that counters the recent trend of grey and white homes, colour has returned to the market. Not only are interior designs being celebrated for their colourful decors, a quality that can demonstrate confidence and taste, but also for the colour palette of their exteriors too.
A colourful facade, one that sits among other colourful homes, is now increasingly popular and such a local landscape is seen to be demonstrative of a harmonious s
