June 19, 2023

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Evolving Hemel Hempstead property preferences

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Evolving Hemel Hempstead property preferences

A shift in types of Hemel Hempstead properties purchased over the last two years.

 

The Hemel Hempstead property landscape is constantly evolving, shaped by societal, economic and cultural factors. The type of properties people have bought in the last few years since the Covid pandemic lockdown one has undergone some notable changes, reflecting shifting preferences and lifestyle choices.

This article explores the transformations in property purchasing trends over the last two years, compared to the long-term almost three-decade average. We’re focusing on Hemel Hempstead detached houses, semi-detached houses, terraced houses and apartments.

Hemel Hempstead detached houses: a shift towards modernity

Detached houses, long considered the epitome of homeownership, have witnessed a transformation in Hemel Hempstead buyer preferences. While they still hold significant appeal, particularly for Hemel Hempstead families seeking privacy and ample space, the demand for Hemel Hempstead detached properties in the last couple of years has decreased. This is compared to the previous average of the last three decades.

This shift started before the Covid lockdown and can be attributed to several factors, including changing demographics, the way people live, varying land costs and evolving lifestyles that prioritise convenience and urban living.

Between 1995 and 2020, 3,820 detached homes sold in the Hemel Hempstead area.

This represents 18.4% of all the property sales in those 26 years. In the last two years (2021 & 2022), 332 detached homes sold in the Hemel Hempstead area, representing 14.0% of all the property sales in those two years, a proportional drop of 23.9%.

Hemel Hempstead semi-detached houses: balancing space and affordability

Hemel Hempstead semi-detached houses have maintained a relatively stable position in the property market over the past three decades, striking a balance between the space offered by detached houses and the affordability of terraced houses. While their popularity has seen minor fluctuations, their appeal to both Hemel Hempstead families and young professionals looking for more spacious living arrangements remains consistent.

Extended semi-detached houses

In recent years, there has been a noticeable increase in demand for well-presented mature Hemel Hempstead extended semi-detached houses as homeowners increasingly seek larger properties that accommodate work-from-home setups and additional living spaces for multi-generational living. This trend suggests a growing emphasis on both comfort and adaptability within the modern Hemel Hempstead home.

  • Between 1995 and 2020, 4,508 semi-detached homes sold in the Hemel Hempstead area. This represents 21.7% of all the property sales in those 26 years.
  • In the last two years (2021 & 2022), 468 semi-detached homes sold in the Hemel Hempstead area. This represents 19.7% of all the property sales in those 2 years, a proportional drop of 9.0%.

Hemel Hempstead terraced houses: embracing urban living

Hemel Hempstead terraced houses have witnessed a resurgence in popularity with many new home builders utilising the modern ‘town house’ in a three-storey format. These houses in modern suburban areas provide a contemporary take on this traditional property type, attracting younger Hemel Hempstead buyers looking for a low-maintenance lifestyle without sacrificing space, as they are built over three floors.

Then we have the Victorian terraced home which offers a blend of affordability, convenience and a sense of community tracing its history back over 100+ years. Young professionals, couples and small families are attracted to the charm and character of these properties, the generous square footage and close to the town centre location, often means the need for a car is reduced.

  • Between 1995 and 2020, 7,547 terraced homes sold in the Hemel Hempstead area, representing 36.3% of all the property sales in those 26 years.
  •  In the last two years (2021 & 2022), 885 terraced homes sold in the Hemel Hempstead area, representing 37.3% of all the property sales in those 2 years, a proportional increase of 2.7%.

Modern kitchen inside a Hemel Hempstead property with a window

Hemel Hempstead apartments: the rise of vertical living

Perhaps the most significant transformation in property type preferences over the past three decades can be observed in the increased popularity of apartments in the UK. Rapidly rising land costs and a growing desire for low-maintenance living have propelled the demand for apartment living to new heights. Apartments offer a range of benefits, including affordability, security, access to amenities and a lock-and-leave lifestyle.

Millennials and young professionals are drawn to the convenience and vibrant urban environments that apartments often provide.

Additionally, the growing focus on sustainable living and reduced carbon footprints has further fuelled the demand for high-density housing options. Also, the issue of cladding which has become a great worry is hopefully on its way to being sorted.

  • Between 1995 and 2020, 4,915 apartments sold in the Hemel Hempstead area, representing 23.6% of all the property sales in those 26 years.
  • In the last two years (2021 & 2022), 688 apartments sold in the Hemel Hempstead area, representing 29.0% of all the property sales in those 2 years, a proportional increase of 22.6%.

This is particularly interesting when we compare the Hemel Hempstead stats to the national picture. Detached houses have seen an increase in demand from 34% of sales a decade ago to 39% last year, semi-detached houses have maintained their appeal and increased from 26% to 28% in the last decade. Terraced houses have witnessed a drop from 26% a decade ago to 21% last year and finally apartments have slightly increased from 11% to 12%.

The property preferences in Hemel Hempstead have experienced notable shifts over the past two years compared to the long-term average of the last three decades. As Hemel Hempstead’s property landscape continues to evolve, it is crucial to analyse these shifting preferences to understand the needs and desires of potential Hemel Hempstead homeowners (and tenants).

Of course, detached houses remain a peak of home ownership, yet as the Hemel Hempstead market is adapting to cater to changing demographics, urbanisation and evolving lifestyles, this might start to change in the coming decade.

By recognising and responding to these trends, homeowners, buy-to-let landlords and planners and developers can ensure that Hemel Hempstead’s property market continues to thrive and meet the demands of the future.

If you would like guidance on the types of properties available to buy and rent in Hemel Hempstead and surrounding areas, contact your local Castles branch today or browse our properties for sale and to rent.

If you’re wondering how much your Hemel Hempstead is worth, book a free valuation with one of our experts agents who’ll visit you in your home. If you’re in a hurry or just curious, get an online property valuation estimate in just a few clicks. A great place to start.

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