However, while it’s the most in-demand property type, supply is low – so it’s no wonder buyers are not hanging around to make an offer.
Meanwhile flats are taking much longer to sell as their appeal drops, with a one bed flat taking 34 days on average to sell; but it’s still a quicker process than it was in 2019 as the market shows surprising strength following the pandemic outbreak.
However, Zoopla believes that the next challenge will be the unwinding of the furlough scheme and other government support, stating that it will “test the strength of the economic recovery”.
With schools reopening next month and the UK slowly returning to a state of normality, the report predicted that wealthier homeowners will continue to lead the way for the housing market, as those with no mortgage or more equity look to move.
But it could be harder for those hoping to take their first step onto the ladder, with Zoopla commenting that “mortgage reliant borrowers will be squeezed out at the margins by some tightening in credit availability”.