Are homes still our castles?
How many people do you think own a home in Portsmouth?
According to figures in our latest Portsmouth Property News bulletin, the number of people who own a property is 5,900.
That works out at 75.6 per cent of the total 7,800 properties in the city. Interestingly, this represents a 4.4 per cent drop since 2001 when 80 per cent of residents owned their homes.
This may be down to the trend in rising house prices since the mid 1990s, which has contributed to fewer first time buyers entering the market.
Or it could well be a lifestyle choice among some younger people who prefer to rent so they have the flexibility to move.
So far, much of the growing rental demand over recent years has been met by private landlords.
The Government has been trying to encourage more first time buyers into the market through shared ownership initiatives.
Please don’t hesitate to contact one of our friendly and professional team to discuss your options to rent or buy.
Our latest Portsmouth Property News also gives insights into the different types of properties sold over recent years. It shows that the number of detached homes spiked in 2015 before falling back in 2016 and 2017.
Another easy-to-read graphic in the bulletin reveals that detached houses have changed most in price over the past two years with a spike in the third quarter of 2016 before plateauing and steadily increasing over following months and years.
Flats, terraces and semi-detached homes have maintained consistent levels over the same time period.
Please do contact us to find out more details or for a free valuation of your property. Our experienced team have many years of local knowledge to draw upon for a realistic strategy to gain the best possible price for your property.