Just 5.7% of the 479,035 homes currently for sale across England offer floor space of 2,500 square feet, equivalent to a four- or five-bed house with multiple bathrooms, according to analysis by UK Property Development (UKPD). In May, large homes accounted for 5.9% of the stock of houses for sale.
The South West was the strongest performing region for the availability of large family homes, with a 7.4% share of current listings. The East of England was a close second with 7.1%, following an increase in its supply from 3,116 in May to 4,142 in October.
Meanwhile, the South East ranked third, with large homes making up 6.8% of available stock.
Nationally, despite an increase in the estimated number of homes listed for sale across England, the number of large properties has fallen slightly from 27,331 in May to 27,105 in October.
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New-build numbers dwindle
The new-build market presents an even more challenging picture for buyers seeking spacious, modern family homes. UKPD’s analysis identified 371 new-build properties measuring at least 2,500 square feet listed across England in October.
Of these, 134 were in the South East, accounting for 36.1% of the national total. The East of England ranked second, with 73 large new-build homes, equivalent to 19.7% of England’s total.
Andy Morrison, director of UKPD, said: “The latest figures show a welcome improvement in the availability of large homes across the East of England. It should be encouraging for buyers looking for more space, but it does not mean the market is suddenly well-supplied.
“The new-build figures are particularly revealing. Although the East of England accounts for almost a fifth of all large new-build properties identified nationally, there are only 73 such homes in the current data. For buyers seeking a substantial new home that combines contemporary design with room for family life, the choice remains limited.”
