The property phenomenon of downsizing appears to be gathering pace. According to recent research the number of people planning to downsize – and step down the property ladder – is nearly twice that of the number casting their eyes up the ladder and aiming for a larger property.
The property website Rightmove suggests that this trend is being fuelled by a squeeze in lending combined with Britain’s ageing population.
But, as with so much property research, what applies to the rest of the UK often doesn’t always apply to the capital and its surrounds. According to the report, Greater London was the only area where there was an increase in uptrading activity – people looking to move up to larger or more valuable properties.
Trading up is regarded as a crucial component of a healthy housing market – and while the rest of the UK is perhaps suffering from a lack of trading up, London, once again, is doing its own thing. Rightmove describes this as a ‘two-speed’ housing market.
So a development like Linden Homes’ Burntwood Square in Brentwood is an interesting case in terms of upsizing and downsizing. A mixture of careful conversions and new build, it is a hybrid consisting of larger, historic family homes – clear targets for the upsizers - smaller semi detached homes, and neat apartments for the potential downsizers.
Either way, in this current and contradictory economic climate, it wins: Out of London, yet easily close enough to benefit from the London property effect; it is also far enough away to possess its own identity.
Burntwood Square is also unusual in its location: It’s close to the centre of Brentwood, but set in a conservation area in 17 acres of landscaped gardens. It was originally the site of the Victorian Highwood and Little Highwood hospitals and many of these original red brick buildings have been preserved and converted with imagination into modern homes.
And while the Brentwood area benefits from ‘The London Effect’ in terms of positive property trends, potential buyers will be relieved to hear that Burntwood Square prices are not dictated by central London prices.
For more information on Burntwood Square in Brentwood, please visit the sales and marketing suite on site, or call 01277 201 812. The sales and marketing suite is open every day from 10am to 5pm.
For further information, contact Naomi Wellman or Tracy Mannion at Remarkable Public Relations on 01962 893 893 or Naomi.email@example.com
21 August 2012