Why do Park homes cost different prices around the country?
A lack of new housing coming onto the market (in particular single storey, age appropriate accommodation, suitable for last time buyers) and uncertainty over the political climate appears to be taking its toll on the housing market, with many finding it more difficult than ever to purchase a home.
In this challenging climate, residential park homes can make a great property choice, and generally, park home developments are cheaper than bricks and mortar properties in the same location.
As with the traditional housing market, park home prices vary considerably across the UK, with the highest average prices generally seen in the South and South East.
Park home prices also tend to track the prices of ‘traditional’ housing in the same area, so where the traditional housing market is strong and costs high, the same will be seen with park homes in the area.
Regional price differences can also be explained in terms of variations in demand and supply conditions. High average earnings, full employment, limited housing stock, and restrictions on new house builds will account for high average prices. Conversely, lower average wages, more housing stock, and easier planning tend to mean that average prices will be lower.
Another factor which influences price is where the cost of land is at a premium; the park home operator / developer will pay an inflated price for the land and development, which in turn will mean an increased sales price for homes.
Prices will also vary according to the specific plot, park and local amenities. Prices will be dependent on factors such as the plot size and location, outbuildings such as garden sheds and garages, decking, drive ways, landscaping, park amenities, and services (maintenance / warden) etc.
In short, many factors determine the price of park homes throughout the UK including supply and demand, location, park amenities and regional variation, and just like buying a traditional property, prices will vary hugely from location to location.