Residential Park Home Market 2022

If you’re looking at selling your home and downsizing to a park home right now, you’ll already know how fast the spring housing market is moving. Homes are being snapped up by buyers faster than ever, and twice as quickly as they were in 2019.

This is also the third consecutive month where house prices have hit a new record high, with the national asking price of a home now reaching £360,101. In London, the average now stands at £667,110.

In the last 1 year, we have had a record number of customers who have been reserved a park home and part-exchanged their home with us.

If we look at some key trends over the last year we see that average times for sales completions have come down from almost 8.3 months to 4.5 months. This would be based on an average of 100 new sales.

Due to the ease of moving into a park home and also the fact that park home purchase does not involve any stamp duty, we have had customers who have completed their move in less than 2 weeks.

Almost 18% of our customers have moved from overseas with Spain, South Africa, France & Cyprus the main countries where they have moved back from.

The high speed of the market and competition among buyers when making an onward move has helped a lot of our customers in completing their home sale quite quick. Also that more than half of home-sellers are achieving their full asking price when accepting an offer which has been a great news.

This kind of market has a lot of advantages, “Being able to secure a quick sale and a quick purchase which is easily possible when you buy from one of our available park homes, it’s a lot less stressful than the uncertainties of a slower market”.

What does this mean if you’re looking to buy a Park Home?

We have seen a lot of increased interest in park homes as they are gaining in popularity as an affordable housing option and offer the advantage of a community setting.

We are expecting more park homes to be ready and available in our developments across the country. However, based on the demand being very strong and the fact that two years of COVID have caused a backlog in the manufacturers, work on new developments etc. means there is still an imbalance between demand and supply.

The existing stock of park homes which are ready and sited is still low compared to previous years and new homes have a long waiting list.

With Wyldecrest Parks being the biggest Park Home Operator, we have the advantage of having a large selection of homes already in production and many of them can then be sited to the development of the customer’s choice.

So if you are sure of the area you want to retire or downsize to, now would be a good time to maybe reserve a park home and then look at the current market price for your property.

If you like a park home and would like to secure it so that you can avoid any further price rises – we are happy to hold the price for you and we will then work with your timelines, whether it’s a month or a year.

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