Defining micro living and the demand

Finefair can offer the most comprehensive services for landlords. We are the best for block management Croydon has, able to look after various types of properties. This also includes blocks of small homes and compact apartments.

There is a big argument that demand for smaller homes is higher than for family homes. Official data from the ONS states that only 28% of households currently have dependent children. Taking into account couples who may be currently planning families, this would still leave a big demand for smaller properties.

What is the issue?

The problem is there are several obstacles in the way of building smaller homes. Firstly there are minimum space standards. This means that many projects fail to gain permission because the size does not meet these requirements. In addition the lack of common definitions can reduce delivery and affect viability.

The British Property Federation (BPF) recently looked into the latter area. The aim of their study was to clearly define different types of micro living. They came up with three different options:

1 – Compact Living – smaller homes that are generally self contained. Residents may share space and amenities with other homes.

2 – Co-Living – purpose-built properties with professional management. May also include personal and shared amenities and space.

3 – Shared Living – houses or HMOs with residents sharing facilities and space.

There is demand for all of these types of homes. With improvements in design, technology, and spatial use, smaller homes can be incredible quality. They give singles and couples a great chance to get on the property market, securing their own space.

If support for small homes continues to grow expect to see more of them popping up all across the UK. London will be a particular hotspot because demand for homes is so high and space is in short supply.

Finefair aims to offer the most reliable block management Croydon has. We can adapt services to suit any need whilst retaining our ability to maximise value. If more compact homes are built we are confident we will be able to manage them effectively.

If you want to discuss services with us please get in touch.