34.79% of Thanet households are 3-bedroom homes. Is that enough?

As an estate and letting agent with a keen eye on local Thanet property trends, it becomes imperative to delve into the nuanced landscape of property types, mainly through the lens of bedroom distribution across various tenures. 

This analysis enriches the knowledge base of Thanet homeowners and landlords and positions them advantageously in making informed decisions.

At the heart of this exploration lies the categorisation of properties based on tenure: owner-occupied, owner-occupied with a mortgage, privately rented, and social housing. When dissected by the number of bedrooms - one, two, three, and four or more - each category reveals insightful trends that I can compare with local and national housing narratives.

Understanding this breakdown is crucial for Thanet homeowners as it sheds light on the current demand and supply dynamics within Thanet.

It offers a glimpse into which types of properties are most sought after. For instance, a surge in smaller, one or two-bedroom privately rented properties might indicate a rising demand from young professionals or smaller families, a demographic trend that has been observed nationally. Conversely, a prevalence of larger, owner-occupied homes could reflect a community with a significant number of established families valuing space and comfort.

On the other hand, Thanet landlords stand to gain immensely from this granular analysis.

The bedroom distribution across privately rented sectors can guide investment decisions, highlighting portfolio diversification or consolidation opportunities. For instance, a Thanet landlord noticing an undersupply in three-bedroom rental properties might consider acquiring or converting properties to fill this gap, thereby meeting market demand and enhancing rental yields. Our local authority, Thanet Council, will also find it helpful to compare their housing stock against the private rented sector.

Moreover, comparing these local insights with national statistics offers a broader context, allowing Thanet's property stakeholders to benchmark against broader trends. Such comparisons can reveal whether Thanet is moving in tandem with national shifts - like the growing preference for more space post-pandemic - or if it harbours unique local preferences that could be leveraged for competitive advantage.

Let's look at the distribution of properties under tenure in the Thanet area, comparing them against the national stats.

Household Sizes in Thanet: A Comparative Overview

Household Distribution

• 1-Bed Homes: 13.64% (Thanet) vs. 11.4% (National)
• 2-Bed Homes: 34.17% (Thanet) vs. 27.1% (National)
• 3-Bed Homes: 34.79% (Thanet) vs. 40.4% (National)
• 4+ Bed Homes: 17.40% (Thanet) vs. 21.1% (National)

Home Tenures in Thanet: Ownership and Renting

Ownership and Renting Distribution

• Owned Outright: 36.55% (Thanet) vs. 32.8% (National)
• Owned with a Mortgage: 25.26% (Thanet) vs. 28.7% (National)
• Social Rented: 11.89% (Thanet) vs. 17.1% (National)
• Privately Rented: 26.30% (Thanet) vs. 20.3% (National)

And now let’s look at household tenure by bedrooms.

 To make the data more readable and engaging, I've reorganized it into a clearer format, highlighting key comparisons between Thanet's housing and national 
 To make the data more readable and engaging, I've reorganized it into a clearer format, highlighting key comparisons between Thanet's housing and national averages across different types of ownership.

Housing in Thanet: A Detailed Overview

Owned Outright

• 1 Bedroom:      5.88% (National Avg: 3.9%)
• 2 Bedrooms:    34.56% (National Avg: 22.9%)
• 3 Bedrooms:    39.59% (National Avg: 46.7%)
• 4+ Bedrooms:  19.97% (National Avg: 26.5%)

Owned with a Mortgage

• 1 Bedroom:     3.39% (National Avg: 3.6%)
• 2 Bedrooms:   22.16% (National Avg: 19.0%)
• 3 Bedrooms:   43.43% (National Avg: 45.1%)
• 4+ Bedrooms: 31.02% (National Avg: 32.3%)

Social Renting

• 1 Bedroom:      33.69% (National Avg: 29.4%)
• 2 Bedrooms:    38.45% (National Avg: 35.5%)
• 3 Bedrooms:    24.25% (National Avg: 31.2%)
• 4+ Bedrooms: 3.61% (National Avg: 3.9%)

Private Renting

• 1 Bedroom:       25.18% (National Avg: 18.8%)
• 2 Bedrooms:     43.24% (National Avg: 39.1%)
• 3 Bedrooms:     24.58% (National Avg: 31.8%)
• 4+ Bedrooms:  7.00% (National Avg: 10.4%)

averages across different types of ownership.

So, what does it all mean? The Thanet housing market, with its diverse range of properties and tenures, offers a rich tapestry for analysis. 

For Thanet homeowners and landlords alike, understanding how the number of bedrooms correlates with different types of tenure provides a strategic lens through which to view their home or investments. It underscores the importance of local market intelligence in making informed decisions for buying, selling, or renting properties.

As Thanet continues to evolve, staying abreast of these trends will empower current property holders and attract prospective buyers and investors to this vibrant area.

And finally, to answer the question posed at the start, 34.79% of Thanet households are 3-bed homes – is that enough? Well, that can't be answered in this short article, as there is such a difference between the tenures. Instead, the article's purpose was to highlight the information and make you think.

Why? Ultimately, the most knowledgeable agents, homeowners and landlords will recognise the value of detailed, localised property insights, using them to navigate the complexities of the Thanet property market with confidence and understanding.

Do let me know your thoughts. 

 

About Cooke & Co

Cooke & Co, a liked and respected estate agency trading since 1992, is conveniently situated in the picturesque seaside district of Thanet. We proudly operate from our local offices in the region's primary towns, namely Margate, Broadstairs, and Ramsgate. Additionally, our extensive reach encompasses the charming areas of Westbrook, Westgate, Birchington, Monkton, Manston, and Minster. Our presence in these diverse locales enables us to offer an enriched understanding and comprehensive service to the property market in these prime coastal towns and villages.

Contact our offices at the following numbers:

• Margate Office/Area: (01843) 231833
• Ramsgate Office/Area: (01843) 851322
• Broadstairs Office/Area: (01843) 600911

Visit our main website at www.cookeandco.com or contact us via email at enquiry@cookeandco.com. If you would like a free instant valuation of your home, then visit our free instant valuation site.