How park home prices vary across the UK05 March 2021
Are you considering moving home? Would you like to downsize and lower your living costs?
If so, buying a residential park home is an incredibly tempting idea right now, because conventional bricks and mortar houses are in short supply. There are simply not enough properties on the market to satisfy demand, and prices are rocketing.
A beautiful park home can tick a lot of boxes — not just lower running costs, but also stunning locations with a community feel. However, many people don't consider this option because they simply don't know much about them.
At Willerby, we are one of the UK's leading manufacturers of park homes, as well as holiday homes and lodges. So, here we'd like to talk you through the process of finding and buying your dream park home, with a particular focus on affordability.
How do park home prices vary?
Everyone is aware that property prices fluctuate from place to place. The cost of the same house in central London and parts of, say, County Durham will differ dramatically.
Is it the same with park homes? Broadly speaking, yes. They tend to mirror the geographical variations in conventional house prices, but at a lower level. The adage "location, location, location" still holds true.
- You could buy a beautiful 40-foot by 20-foot Hazelwood park home, built by Willerby, for £119,750 on the Burbank Residential Park in Perthshire.
- The same park home on the Camrose site in Pembrokeshire costs £155,495.
- At Hayden Court Park, Cheltenham (on the edge of the Cotswolds), you'd pay £175,000.
Property prices are continuing to increase across the UK, regardless of the pandemic. Homeownership feels out of reach for many people. According to a Nationwide Building Society report published at the end of 2020, "annual house price growth accelerated in December, reaching a six-year high of 7.3%, up from 6.5% the previous month".
The reasons for rising house prices include a raft of Covid-related government measures, such as furlough payments, the Self Employment Income Support scheme, and the stamp duty holiday.
However, another explanation for the unexpected boom is that living under lockdown has caused many of us to re-evaluate our lifestyle.
The retired and semi-retired, especially, are considering moving to quieter, rural, and less heavily populated places with different property types. That's why buying a park home can open up such exciting possibilities.
What is a park home?
A quarter of a million UK people currently live in a park home. The official definition is a detached bungalow-style property located on a private residential park or estate. They are typically prefabricated: manufactured in a factory and transported to the site.
The big difference with a park home is that you only buy and own the "building" —not the plot of land rented from the park. Hence the lower price.
More than a holiday home
You're probably thinking that a park home sounds like the type of property more usually associated with holiday parks. True, but there's one big difference: a park home can only be given that title if it's used as a permanent residence.
And because they are intended for all-year-round occupation, park homes are found on specially designed sites and built to an even higher specification.
Finding and buying your park home
If purchasing a beautiful park home sounds like it could be your perfect next move, where do you start?
You'll find everything you need to know about park homes right here. Take your time browsing, and you'll see how luxurious, spacious, and superbly equipped a bespoke park home can be. It's more like having a house built for you than buying someone else's property!
Your new park home from Willerby will be designed to your specification and packed with home comforts and desirable features, from walk-in wardrobes and en suite showers to fitted kitchens and energy-efficient central heating. Best of all, it's built to order with Willerby quality.
We'll also help you pinpoint your perfect park, walk you through the journey, and answer any questions you may have.
Sound good? See the Willerby quality for yourself with a visit to one of our showgrounds. There's no better way to explore the possibilities in detail, experience the luxury first-hand, and get an authentic feel for park home living. We'd love to welcome you very soon.