View more on these topics

Developers switch focus from FTBs to families

Residential property developers are predicting a surge in the number of family homes that will be built over the next decade, signalling a move away from first-time buyer properties.

Property specialists Movewithus polled around 40 developers representing approximately half of the UK market.

It found that 64% of developers polled believe the level of development of properties with three bedrooms plus is set to rise significantly over the next ten years.

But only 39% of developers think that a similar number of first-time buyers properties will be built over the same period.

The development of so-called ’banker pads’, such as penthouse apartments, is also predicted to fall with 69% of developers believing less banker pads will be build.

Robin King, director at Movewithus director, says: “If the noughties were characterised by the rise and fall of two-bed apartments, then the current decade will be seeing the same sense of reality returning.

“Developers have reacted to the changing demographics and are starting to build what is required to live in, rather than what some people thought they could make a quick investment buck on.”

Recommended

Rightmove raises profit forecast

Rightmove has seen a substantial increase in the average spend per advertiser in January 2010, leading it to increase its profit forecast for 2010.

Default image

Health Shield announces strong results

Health Shield, a corporate health cash plan provider, has announced that it has increased gross annual premium income to more than £25m in another year of strong organic growth.

Newsletter

News and expert analysis straight to your inbox

Sign up