Since January 2019, over 7.6 million homes have entered the UK rental market, and the breakdown is telling: 55% of these properties were flats, 35% were houses, and the remaining 10% were bungalows and other property types. This is quite a shift, given that in the broader UK housing market, houses make up 68.5%, while flats account for just 21.7% and bungalows and other types represent around 9.8%.
The dominance of flats in rental listings suggests a strong demand for compact, centrally located homes, especially in urban areas where rentals tend to be concentrated.
Flats often offer greater affordability and convenience, particularly in bustling city centres, which may explain their appeal to renters across towns and cities.
For the people of Northampton, have you noticed this trend locally? Are flats becoming more popular among renters, or do houses and bungalows still hold the main appeal?
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