Limited numbers of bungalows and park homes have made it almost impossible to meet the huge demand for this type of property, new research shows…

The latest analysis by residential park bungalow provider, Regency Living, reveals that the number of park homes in England is equivalent to fewer than 0.5 per cent of all domestic dwellings, which means there is a highly limited supply to satisfy increasing demand from downsizers.
Regency Living has analysed the number of park homes in England and measured it against the overall number of domestic dwellings across the country to illustrate just how limited the supply of park homes is despite the increasing demand from retirees and downsizers.

Popular with downsizers
It is estimated there are roughly 200,000 downsizers each and every year, selling large family properties and moving into something smaller and more manageable. Park homes are popular among downsizers because of the idyllic locations and ready-made community they offer. Not to mention the fact that downsizers can benefit from the equity released from their bricks-and- mortar homes.

However, the current supply of park homes comes nowhere close to accommodating the number of England’s downsizers, which means securing a park home can be tricky.

Regency Living’s analysis reveals that there are an estimated total of 100,406 park homes in England, situated across an estimated 1,832 park home sites.

This means that the total number of park homes is equivalent to just 0.4 per cent of England’s total number of domestic dwellings which currently stands at 25.4m (not including park homes).

Best chance
Downsizers have got the best chance of securing a park home in the south-west and south-east regions of England.

The south-east region is home to 27,693 of England’s park home stock total of 100,406. This is equivalent to 27.6 per cent of the national total making it the ‘go-to’ park home destination for downsizers.

In the south-west, some 19,660 park homes account for 19.6 per cent of total national stock, followed by the east of England (15.4 per cent), East Midlands (10.7 per cent), and West Midlands (10 per cent).

But despite ranking as the nation’s park home hotspots, park home stock levels in both the south-east and south-west account for just 0.7 per cent of each region’s respective total housing stock, highlighting just how hard they may be to come by for those looking to reap the benefits when downsizing.

‘More affordable’
A Regency Living spokesperson commented: “Park homes are becoming more and more popular with downsizers and retirees because they provide a great, manageably-sized home in the heart of England’s most beautiful coastal locations.

“Not to mention, your average park home is significantly more affordable than a bricks and mortar home, meaning that downsizers can spend their money on enjoying a great retirement rather than ploughing it all into property.

“However, anyone hoping to secure themselves a park home is going to need to act quickly because supply is limited and competition is high and as our research shows, total park home stock equates to just a minute percentage of the total housing market.”