The 2 bedroom boom!

With money harder to borrow, larger deposits needed, the lack of new affordable housing and the impact of the economic downturn, the last few years have seen a significant rise in a renting culture and the emergence of a new trend of adults returning home to live with their families. However, the chancellor’s recent clampdown on buy-to-let investments may finally give those who want to get their foot on the housing ladder, the breathing space that they desperately need.

According to statistics from Rightmove, there has been a 6.6% increase in new two bedroom flats for sale in the last year, making their availability the highest they have been since 2007.

2015 saw the chancellor, George Osborne, cut tax reliefs for buy-to-let landlords, and increase stamp duty on investment properties, and this recent availability could suggest that some landlords could be selling up before the changes in the law are enforced in April.

Nonetheless, the news is not the same across the sector and although prices for two-bed flats are static, this is not reflected in the mainstream property market which continues to rise, by 0.5% making an active start to the year. However, it appears to still be good news for first time buyers, who can now enjoy being in the relatively new position of increased negotiating powers and a greater choice of property stock.