What are the two most popular residential types of property in the UK?
The UK is home to a range of various property development types that you can find on every single street. For property developers, different property types represent a range of advantages and disadvantages to building that particular type of property.
With the government announcing that 300,000 new homes built is the target for 2020, Homes and Property looks at the pros and cons to property types in the UK.
A semi-detached property shares a single wall with another property. This is one of the most common types of property built in the UK as its common for a property developer to buy a large piece of land and put two properties onto it, rather than one.
- Advantage: Semi-detached properties generally offer a degree of privacy and can attract high-value sales from families looking for their new home.
- Disadvantage: For homeowners, expansion can be harder since a lot of planning permission is needed and consideration has to be taken into account for the other property owner.
Flats / Apartment Properties
Flats generally are single-level properties that share a building with other flats. The building is split into individual flats and it’s common that the garden on the property is used as a communal area. Flats are incredibly popular with first-time buyers and working professionals.
- Advantage: Flats can be a very profitable opportunity of the location is good. Depending on the number of flats built, it can be a way for property developers to maximise their investment.
- Disadvantage: There’s a fine line between the type of market for flats. Depending on the location, high-end flats are usually achievable to sell in city locations, so it may be difficult to market them for higher prices.
No matter the type of property you decide to build, the design process is incredibly important. Research the market you want to build a property for and understand what they’re looking for and how it impacts your property designs.