Despite the worry over cladding, and the demand for larger properties and greater outdoor space brought on by the pandemic, people still want apartments and flats when it comes to buying a property. We find out more…
Collecting the data
UK Property Management experts Warwick Estates have analysed homebuyer demand based on the number of flats and apartments in certain cities which were either sold subject to contract (SSTC) or under offer. Taking these numbers into account, they gave a demand score as a percentage of the number of flats listed in that city for sale. For example, if there were 100 flats listed in the city for sale, and 50 of them were under offer or SSTC, then buyer demand would be recorded for that city at 50%.
Results from the cities
The top 20 major cities across the country were researched to evaluate the level of demand for flats and apartments. Looking at the numbers overall, an average of 40% of all apartments listed for sale have been bought by buyers. However, when looking more closely at specific cities, there were some cities with particularly high levels of demand.
For example, leading the way with buyer demand at 71% is Glasgow, followed by Edinburgh at 60%. Looking at apartment buyer hotspots outside of Scotland, and in England more specifically, Bristol ranked top at 55%. Interestingly, thereafter quite a few coastal towns featured high on the list, including Plymouth (53%), Bournemouth (47%), Portsmouth (45%), and Southampton (42%).
Lifestyle choice
While the pandemic has seen many people move away from cities and out into more rural areas, the data proves some people still want apartments. Helped by the stamp duty cuts, some people have seen this as an opportunity to either buy for the first time or downsize to an apartment. After all, apartments are more affordable. And when you see the cities which are topping the list from the Warwick Estates research, it seems coastal living is appealing.
As well as the location of the apartments which are either SSTC or under offer, the most sought after property features can also be understood. From the data collected, availability of some kind of green space within an apartment development is top of the list at 44%. Following from this, people who want apartments with either a parking or garage space rank second (42%), and after that, a balcony or terrace (36%).
New apartments in the leading cities
We work with many of the country’s leading property developers, helping to promote their new homes and apartments. As such, we have several new flats and apartments listed on our website within those cities which came out top of the research done by Warwick Estates.
Bristol, which ranked the highest place in England for the number of flats and apartments either under offer or SSTC, is one such place where we have several apartments listed. Here are two quite different options, each available from heritage developer City & Country Homes.
2 Capstan Room (2002), Factory No.1, Bristol
A fantastic one-bedroom apartment with a ground floor location of Capstan Room, which includes a private south-facing terrace to enjoy. The apartment has a bright and airy open plan kitchen, living and dining space, with a modern, fully inclusive specification. There’s been attention made to storage space with the inclusion of fitted wardrobes in the bedroom and a utility cupboard. Modern, stylish, and a great first home for young professionals, it’s also worth noting that at Factory No.1, all residents have access to a beautifully landscaped central oasis. Available from £270,000 – see more.
1 Lawrence House, The New Yard (12-01), The General, Bristol
If luxury apartment living is what you’re looking for, then this 3-bedroom treasure will not disappoint. It ticks all the open plan living boxes and has outdoor space as sliding doors take you from the living room out onto a private, south-facing garden. There is also a courtyard entrance to the property, and residents have one allocated parking space. The master bedroom is sumptuous with a luxurious en-suite shower room, fitted wardrobes and two Juliette balconies for plenty of light and air.
As well as appliances and sanitary ware of the highest specification, the property also benefits from a concierge service. Prices start from £799,500 – find out more.
New Homes Place is an online property portal dedicated to new-build properties. We make it easier for prospective home buyers to search, enquire and go on to buy their dream new home. If you are a housebuilder, ask about advertising your new properties with us, whether they are houses, apartments, or retirement properties, and reach a qualified, interested audience today.
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