The demand for park homes among downsizers, particularly those over 50, has seen a significant upswing. New data analysis from over-50's property specialists, Quickmove Properties, reveals that counties such as Rutland, Leicestershire, and South Yorkshire have experienced notable quarterly increases in demand for park homes.
This shift is largely driven by the lifestyle and affordability benefits park homes offer as an alternative to the pricier and still sluggish bricks-and-mortar property market.
Understanding the Demand Index
The Quickmove Properties Demand Index measures the demand for park homes across each county in England on a quarterly basis. Demand is calculated by comparing the number of park homes currently listed on the market to those that have already been sold subject to contract (SSTC). For instance, if there are 100 homes on the market and 10 are SSTC, the demand is 10%.
The latest index shows that almost one in five park homes had sold subject to contract across England in Q2 2024 (19.5%), marking a quarterly demand increase of 1.6%. Regional demand was highest in the Southeast, where demand climbed by 2.5% to reach 27.6%.
Regional Insights and Trends
At the county level, the demand for park homes has reached impressive heights. In Oxfordshire, 35.1% of all park homes listed for sale were snapped up by eager downsizers. Other counties with particularly strong park home demand in Q2 2024 included:
Berkshire: 32.3% of all stock already sold subject to contract
Staffordshire: 31.6%
Hampshire: 31.2%
West Sussex: 30.4%
Bedfordshire: 29.7%
The nation's strongest performance in quarterly growth was recorded in the smallest county, Rutland, where demand rose by +14.3% in Q2 2024. Leicestershire (+12%), South Yorkshire (+10%), Staffordshire (+9.2%), and Oxfordshire (+6.6%) also saw strong growth.
The Appeal of Park Home Living
Mark O’Dwyer, Sales Director at Quickmove Properties, commented on the rising demand:
“Demand for park homes continues to rise across England as silver downsizers recognise the benefits a park home purchase offers in the current economic landscape, whilst at the same time securing an exceptional home in a great location for a fraction of the price they’d pay for a traditional downsizer home."
The benefits of park home living are numerous and particularly appealing to retirees:
Fast Buying Timeline
The process of purchasing a park home is typically quicker than that of traditional homes, allowing downsizers to move in and start enjoying their new lifestyle sooner.
Community
Park homes offer the security of an immediate and like-minded community, which can be particularly comforting for older adults.
Equity Release
Downsizers can release equity from selling their family home, providing financial flexibility and security.
Location
Many park home sites are in picturesque areas, such as the south coast, allowing residents to enjoy beautiful surroundings and a high quality of life.
Strategic Opportunities in the Park Home Market
For businesses and investors, the increasing demand for park homes presents several strategic opportunities:
Targeted Marketing
Focusing marketing efforts on regions with the highest demand and growth can yield better results. Counties like Oxfordshire, Berkshire, and Rutland are prime targets where demand outstrips supply.
Partnerships
Collaborating with local estate agents, property developers, and park home manufacturers can help in meeting the rising demand efficiently.
Community Development
Investing in the development of new park home communities in high-demand areas can be a lucrative venture.
Value-Added Services
Offering additional services such as home customisation, maintenance packages, and community events can enhance the appeal of park home living.
The demand for park homes among downsizers is on the rise, driven by the affordability, lifestyle benefits, and quick buying process. For property businesses and investors, this trend offers numerous opportunities to capitalise on the growing market. For more detailed data and insights, you can view the data tables provided by Quickmove Properties here.
We manage the marketing of our park home development projects within our exclusive platform. Drop us a line for a chat to see how we can put our expertise to work for you.
Comments