Two-up two-downs are the hottest properties according to Zoopla

‘Two-up two-down’ has traditionally been an almost derogatory term. It implies a small cramped house at the very bottom of the housing ladder. However, in recent years its fortunes have changed and it has had something of a renaissance, so much so that Zoopla says it is now the most in-demand home type.

According to their data, 49% of their sales in England and Wales were agreed within 30 days of the property being listed. And the average is just 27 days. 4-bedroom properties, on the other hand, take 40 days or 33% more time to get an agreed sale.

So why, exactly, are they selling so fast?

Zoopla says the answer is that 2-bed terraced homes appeal to a wide variety of buyers. They are a good value-for-money option for first-time buyers with limited funds as well as being a popular choice for downsizing empty-nesters.

They’re also surprisingly rare. Only 7% of homes that came on the market in the last 3 months were 2-bed terraces, so demand is outstripping supply.

What Zoopla don’t say is that they are often bought as an alternative to a flat. That’s because, unlike flats, most are freehold and don’t have service charges or managing agents. They are also, by their very nature, more private, many have gardens and some even have off-street parking. Nor, post the Grenfell tragedy, do they have any cladding to worry about.

And it doesn’t stop there, they are more flexible, too. Attics offer the chance of more storage space or can be converted and, for those with the space they can be extended outwards, too.

Money is another key aspect. Higher borrowing costs mean that buyers are having to trim their budgets (and their expectations). People who wanted a typical 3-bed family home are instead considering a 2-up 2-down, as they are not only cheaper to buy, they are cheaper to run.

And that is reflected in their rising popularity. They have, Zoopla say, been sought after in the more affluent areas for some time but are now increasingly in demand in more affordable areas as well.

As they say, they are canny those Scots, and that is where they are selling the fastest, with sales being agreed just 14 days after they are listed. And, they love them in the North West too, with England’s fastest sales times at 21 days.

So, next time you hear someone speak about a house a 2-up 2-down in a disparaging manner, you can tell them that, actually, they are the hottest ticket in town when it comes to selling them!

Oh, and for much the same reasons, they make great rental properties too.

If you are looking for some of the best investments in the property market, why not take a look at some of the fabulous properties we have in our next auction at Phillip Arnold Auctions.

Back to News