Shawbrook’s research reveals a significant trend in the UK property market, with buyers now favouring energy efficiency and sustainability over the charm of period properties. This shift is influenced by the economic climate and the aftermath of the pandemic, leading to changes in housing preferences.
Around 67% of landlords have noticed a diminished appeal in period properties compared to a decade ago. This is attributed to rising costs and energy bills, prompting buyers to look for more cost-effective options.
Developers report an increased interest in sustainable housing, with a majority acknowledging its growing priority among buyers. They also note a rise in the popularity of new builds, with location remaining a crucial factor in property sales.
Other key observations by developers include the decline in the attractiveness of period properties and a shift in attitudes towards greenfield or brownfield site development. Additionally, there’s an emerging trend of multi-generational living and eco-friendly housing, driven by cost-saving and sustainable living goals.
Terry Woodley, MD of development finance at Shawbrook, said: “The current economic challenges are reshaping buyer preferences, with older period properties becoming less favoured due to their lower energy efficiency and higher running costs.
“Developers are adjusting strategies to align with these changing demands, focusing on sustainable and efficient properties.”
