Developers finding small flats difficult to sell

News Category: Industry News

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Prospective homebuyers are turning their noses up at recently developed properties because they are too small.

The National Housing Federation (NHF) has observed that many people jumped on the property bandwagon and tried to make as much money as possible by "squeezing as many properties as they could" into one building.

However, the result is that they now own lots of flats which are not appealing to buyers because they are not big enough, meaning that there could be an increased demand for larger rental properties instead.

A spokesperson said: "We have seen a lot of very small flats being built during the housing boom, and some developers have attempted to cash in by squeezing in as many properties as they could onto sites. They are now finding these homes quite hard to shift."

The spokesman added that while some developers are trying to sell their small flats tohousing associations, they have been turned down there as well.

"They aren't interested in flats that are too small. If they aren't good enough for buyers, why should they be good enough for social housing tenants?"

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