The East of England is struggling to meet demand for large family homes according to new research from UK Property Development (UKPD), with buyers seeking space outside London facing a limited supply of larger properties.
Analysis of current property listings found that just 5.9% of the 460,071 homes currently for sale across England offer more than 2,500 sq ft of living space.
While the South East leads the way, with larger homes accounting for more than 7% of available stock, followed by the South West at 6.7%, the East of England trails behind despite its popularity with families and commuters.
According to UKPD, only 5.6% of homes currently listed across the East of England exceed 2,500 sq ft, making it the weakest-performing commuter belt region and the third-lowest proportion in England, ahead of only London and the North East.
GROWING PRESSURE
The findings point to growing pressure on housing stock across sought-after locations including Hertfordshire, Essex, Cambridgeshire, Norfolk and Suffolk, where buyers continue to seek larger homes offering dedicated office space, bigger gardens and flexible accommodation for modern family living.
The shortage comes as the region continues to attract households relocating from London in search of more space while retaining access to the capital and major employment hubs.
BETTER BALANCE
Andy Morrison (main picture), Director of UK Property Development, says: “The East of England continues to attract buyers leaving London in search of more space, stronger communities and a better lifestyle balance.
“Arguably the country’s best-positioned commuter region, it combines excellent connectivity with outstanding countryside, high-performing schools and thriving towns and villages.
“It is especially attractive to young families looking to put down long-term roots in a spacious family home. The challenge is that supply simply hasn’t kept pace with demand. For all the region’s appeal, there remains a serious shortage of large, aspirational family properties.
“The available data shows us how few properties there are above 2,500 sq ft, no such data is available for homes of more than 3,000 sq ft, but we can safely assume the proportion will be miniscule, further demonstrating a severely underserved market.”
