Sales of bungalows are booming as families compete with older buyers looking to downsize on retirement.
Prices in some areas are rising at double the local rate after they became the target of families put off by the soaring cost of larger properties.
Bungalows are usually 5 per cent cheaper than average homes and demand in the first three months of this year was 63 per cent higher than the five-year average, said property website Zoopla.
Bungalows are only slightly cheaper than average homes, but demand at the start of the year has skyrocketed according to Zoopla, as more people see them as a viable option to live in (stock photo)
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Bungalows are only slightly cheaper than average homes, but demand at the start of the year has skyrocketed according to Zoopla, as more people see them as a viable option to live in (stock photo)
The surge in demand for bungalows comes as house prices sit at record highs following a post-pandemic boom (stock photo)
The surge in demand for bungalows comes as house prices sit at record highs following a post-pandemic boom (stock photo)
Sophie Bowdon, of Cornwall estate agent Miller, said: ‘Everyone wants one, even young families.
‘A few years ago they weren’t interested, but now they see you get the larger footprint and a garden, and can extend.’
One retired teacher, 79, paid £10,000 more for a bungalow than the £390,000 she raised from her former home nearby.
‘It is surprisingly competitive because it is not just oldies like me but families, singles, everyone,’ she said.
The woman added: ‘I scoured all property websites daily. But within days of appearing online, they’d disappear.’
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