Larger family homes 'more in demand at present'
A shift in demand has taken place in the UK property sector, with larger properties becoming more en vogue among buyers at present, the Home Builders Federation (HBF) has revealed.
Steve Turner, head of communications at the HBF, said this sea change has come about partly through a shift in planning priorities among local authorities and also as a response to changing tastes among purchasers.
House builders have reacted by building more large homes and therefore more of these properties have been available on the market.
According to a recent report by Knight Frank, there has been a considerable increase in demand for large family homes across the UK in the last 12 months.
The organisation's findings revealed 87 per cent of individuals operating in the house building industry reported 'moderate or high demand' for four to five-bedroom homes in 2012 - up from 77 per cent in 2011.
However, constrained lending over recent years has been cited as a major reason for fewer small homes coming on to the market, as if individuals cannot buy, then developers cannot build.
Mr Turner concluded: "Clearly, the wider economic climate is going to influence banks' willingness to lend and people's ability to buy.
"Whilst we are seeing some positive developments, it still remains a concern and the other main constraint is the planning system."
At the end of April, the Department for Communities and Local Government announced new support for the creation of more self-build property projects across the UK over the coming years.
Housing minister Grant Shapps unveiled a raft of new measures aimed at promoting this kind of innovative home building to more members of the public.
It included greater access to finance, a reduction in red tape regarding the house building process and the delivery of more land dedicated solely to this type of project.
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