Bungalow demand booms despite property market woes

Interest in buying bungalows has exploded in recent years with a huge upturn in online searches for one-storey properties.

Research by Confused.com Mortgages shows that searches for a desirable bungalow have mushroomed by more than 50% in the last 20 years.

‘Social tags’ using the word ‘bungalow’ have now surpassed 100 million, the report examining the current market reveals.

Lukewarm

Back in 2004, interest in bungalows was lukewarm compared to today, the report suggests. Google Trends shows that the 2004 interest score of 12% rose to 65% in November this year in the UK.

This means interest in bungalows has risen 53% as Brits search for these properties more and more.

Social media users around the world are also showing significant interest in renovating bungalows. There are over 100 million worldwide TikTok views for videos detailing bungalow renovations.

High demand

On Instagram, over 129,000 worldwide posts include #bungalowrenovation, while almost 17,000 include #bungalowreno.

Over the last year, bungalows have been in high demand in the UK. The average bungalow price in 2021 was £314,000, rising by 8.28% from 2021 to 2022. At the same time, the average price of all properties rose by 4.94%.

Bungalows have seen a revival in popularity in recent years.”

Claire Flynn - Confused.com

Claire Flynn, Mortgages Expert, Confused.com

Claire Flynn, mortgages expert at Confused.com, says: “Bungalows have seen a revival in popularity in recent years. The average price of a bungalow is cheaper than the average detached property too, at £340,000.

“A bungalow has fewer supporting walls, so owners could feel like they’re living open-plan. Detached bungalows also offer an escape from noisy neighbours in semi-detached and terraced properties.”

Main picture: Confused.com

The original article can be found here

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