Between April and June 2024, 2-bedroom terraced homes became the fastest-selling property type in England and Wales. The average time to agree on a sale for these properties is just 27 days, 5 days faster than the national average. In fact, 6 in 10 sales of 2-bed terraced homes are agreed within a month of listing, showcasing their strong demand.
Why are Two Bedroom Homes So Popular
2-bed terraced houses offer excellent value for money, making them a top choice for first-time buyers who may have limited funds. However, they also appeal to downsizing empty nesters who want to maintain a garden and other key features without the upkeep of a larger home. These homes are relatively rare, with only 7% of properties that came on the market in the past 3 months being 2-bed terraces. This scarcity drives competition among buyers, further speeding up sales.
Smaller Homes in High Demand
Traditionally, 2-bed terraced homes have been the fastest-selling type of property in more expensive regions like London and the East of England. However, they are now leading the way in more affordable areas, signalling a shift in buyer priorities due to higher borrowing costs. Sussex, has seen a surge in demand for these properties. In areas like Worthing, Lancing, and Shoreham, 2-bed terraced homes are highly sought after for their practicality and investment potential.
Why These Houses Sell Fast
In addition to their affordability and versatility, the fact that they’re a limited commodity adds to their allure. Whether you’re a young professional, a growing family, or someone looking to downsize, 2-bed terraced homes offer the perfect balance between space, cost, and convenience.
