The Rise of Bungalows in the Darwen Property Market

Darwen, Paul Ainsworth-Lord, Deborah Ainsworth-Lord, Property Expert

Local Darwen property expert talks about The Rise of Bungalows in the Darwen Property Market

During the pandemic, the property market experienced a surge in demand for larger Darwen homes with spacious gardens. However, the tides are shifting, and a new trend is emerging. The combination of an ageing Darwen population, the post-Covid trend for early retirement and economic uncertainty has sparked a newfound love for downsizing.

And surprisingly it is the bungalow, often overlooked in favour of more glamorous options, that is now left, right and most certainly centre in the spotlight.

As average mortgage rates have risen above 6%, middle-class families facing financial constraints seek alternatives to their larger homes.

Bungalows are becoming increasingly the preferred choice for those looking to downsize.

Darwen, Paul Ainsworth-Lord, Deborah Ainsworth-Lord, Property Expert

Additionally, retired couples are joining the downsizing trend, motivated by the energy crisis experienced during the previous winter and the prospect of upcoming expensive winters. This convergence of factors has ignited an earnest search for the quintessentially British property — the bungalow.

The bungalow’s rise to prominence has been largely unrecognised. In the first six months of 2021, the average sold price of a UK bungalow was £308,648, compared to the average sold price of a house at £353,661.

Looking forward to the first six months of 2023, the bungalow has risen in price to £346,039, whilst the average house sold price has only risen to £385,392.

That means the average price of a bungalow in Britain has seen a 12.1% rise from the first half of 2021 to the first half of 2023, compared to 8.97% for houses over the same time frame.

This is because the number of Darwen homeowners looking to sell and downsize increased by a third last year and continues to rise.

However, it’s not just retirees who are drawn to bungalows.

Downsizing families with budget constraints are finding an appeal in bungalows due to their generous garden spaces as a new generation of house hunters recognises the allure of these properties.

The supply chain needs help to keep up with the increasing demand for bungalows. So let’s look at both the national and local picture.

In the last six months, of the 870,031 properties that came onto the market in the UK, only 70,077 (8.05%) have been bungalows.

Let’s look more locally in the Darwen area (BB3).

Only 28 Darwen bungalows have come onto the market since the 1st January 2023, with an average asking price of £217,743.

Whilst 519 Darwen houses and 14 Darwen apartments have come onto the market in the same time frame.

Looking at what has sold over the first six months of 2023, an impressive 27 Darwen bungalows have sold (stc) – a saleability rate of 96.4%.

In the same time frame, 337 houses have sold stc (a saleability rate of 64.9%) and 10 apartments have sold stc (a saleability rate of 71.4%).

To give some context to this, since 1st January 2021:

  • 225,297 of the 296,228 bungalows that have come onto the market have sold or are currently sold stc (76.1%).
  • 1,813,330 of the 2,548,720 houses that have come onto the market have sold or are currently sold stc (71.1%).
  • 528,010 of the 898,183 flats/apartments that have come onto the market have sold or are currently sold stc (58.9%).

So why do we love our bungalows?

Darwen, Paul Ainsworth-Lord, Deborah Ainsworth-Lord, Property Expert

Bungalows have long captured the imagination of Britons due to their charm, practicality, and accessibility. Initially influenced by the Arts and Crafts movement of the early 20th century, these homes reflect a simpler way of living

With their convenient layout on a single level, bungalows offer easy accessibility and are an ideal option for Darwen homeowners seeking to avoid stairs or mobility challenges. This aspect has contributed significantly to the widespread appeal of bungalows, particularly among older individuals looking for a comfortable and age-friendly living space.

One of the key attractions of bungalows is their versatility and adaptability. These homes can accommodate a wide range of lifestyles, making them an excellent choice for families, retirees, and everyone in between.

Bungalows provide ample space for growing Darwen families, allowing for multiple bedrooms, living areas, and even home offices. Their layout also offers the potential for creative customisation, such as converting a spare bedroom into a hobby room, gym, or work-from-home office.

Additionally, bungalows often feature generous gardens, allowing homeowners to create outdoor havens for relaxation, gardening, and entertaining. The seamless integration of indoor and outdoor spaces is another appealing characteristic that makes bungalows stand out in the Darwen property market.

These are why the Darwen bungalow, long overlooked and considered the ‘Bridesmaid, never the Bride’ of the local property market, is now experiencing a resurgence in popularity.

As an estate agent specialising in bungalows, I encourage Darwen homeowners considering a sale in the next 6 to 12 months and those looking to purchase their dream bungalows to contact me.

Together, we can navigate this thriving Darwen property market and make your Darwen bungalow dreams a reality.

Visit the Darwen Property Blog for more articles.

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.