Wednesday, 18 September 2013

To Build or Not to Build?

If you could choose, what type of home would you choose, a new flat a castle a Victorian town house, an interesting question. Previous housing preference surveys carried out suggest the most popular type of housing would you believe is the bungalow, this preference being stronger among the older population.

A wide variety of choice or not?
In the main most of us have limited choice when it comes to what type of house we live in, the most obvious constraint being what we can afford and in a arena of rising house prices many of us have much less space that we would like.  Britain currently has some of the smallest newly built homes on Europe. 
We also will consider a particular area to live in based on close proximity to our family and friends or close to our job and this limits choice and we become dependent of whatever type of housing is available in that area. Maybe the British housing market is not the best at giving people what they want and that what is built is driven by other factors rather than people choice.   
Let’s hear it for the bungalow
Bungalows seem to have been one of the casualties of this lack of flexibility over house building, sometimes driven by fears of using too up too much of Britain’s green land to build houses. There has been a tendency to create more houses at higher densities for example, more blocks of flats which does not bode well for the bungalow.
 However with a growing ageing population and the desire to remain mobile and self sufficient in our own homes in our retirement year’s bungalows lend themselves to making this more achievable.  It is projected that in the next 20 years or so there will be a significant rise in household over 65 and the need to provide housing like bungalows, which can be more easily adapted for older people’s needs will become a much larger focus that councils will need to consider and action to reflect this trend.
The Circle of Life
To build a more balanced portfolio of housing could benefit all as housing tends to be tied to a person’s life cycle. When you are on your own or co-habiting the space you need is small compared to when you move into more permanent relationships with children, when there is a need for space, more bedrooms and larger garden. 
When children then fly the nest and it may not always be economic to pays the bills for a larger property and one solution is to downsize.  However the inflexible supply of new housing over the last 10 – 20 years makes it difficult from a financial perspective as well as available suitable properties for the older generations to downsize.  This is turn makes it more difficult for those that want to up-size in respect of available larger properties.
This suggests there is a need for government to take on board the needs of an ageing population which in turn would free up larger housing availability for the young and middle aged. A more balanced build that benefits all.
An interesting thought for this Blog!
And don’t forget throughout the journey David Jordan Estate Agents will be with you every step of the way offering their years of expertise to guide you along the way.
Call us or email us using the details on our website:  www.DavidJordan.co.uk
T:    01323 898414

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