Britons 'seeking larger properties'

01 April 2010

Written by David Whittaker

Buy to let landlords could see increasing demand for larger homes, following a survey from the National Association of Estate Agents (NAEA).

According to the survey, many Britons are selling their property and searching for a bigger home.

"Upscaling" is the main reason for many homeowners putting their property on the market.

Chief executive of the NAEA Peter Bolton King said: "The fact that there has been an increase in the number of people moving to a larger property suggests the UK is slowly emerging from the economic downturn."

But he warned that more second or third-time buyers need further government support.

And buy to let owners may be interested to know that 78 per cent of people polled wanted a larger home.

For 58 per cent of participants, divorce was the driving force behind selling-up.

Debt, family death and a new job were all cited as other key reasons for putting a property on the market.

The NAEA has 10,000 members who specialise in letting as well as commercial and residential sales.

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