Could You Live in a Leicester Micro-Home?

Consumer group Which? has discovered that there has been an explosion in the number of so-called ‘micro-homes’, which tend to be smaller on average than a London Tube carriage or budget hotel room.

Last year saw a 40% increase in the number of newly built micro-homes, and experts put the trend down to the difficulties faced by first-time buyers and the chronic national shortage of affordable housing.

The smallest micro-home unearthed by Which? was located in Brent and measured just eight square metres – that’s just one metre more than your typical jail cell.

Major cities, including Liverpool, Birmingham and Leicester, have also seen growth in the number of micro-homes being built, with one flat in Leicester measuring just 22 square metres and setting its buyer back £70,000. So could you live in a micro-home?

What Do You Get for Your Money?

While there’s no hard and fast definition of a ‘micro-home’, most property experts class them as homes with under 30 square metres of floor space. Last year saw 7,800 of these dwellings built, up from 5,605 in 2015, and it looks like a trend which is set to continue. One advantage to the limited floor space is that developers can convert disused central office space into accommodation, meaning fewer buildings standing empty and more people able to take advantage of city centre living.

There’s no denying they’re cramped, but most of these properties are small but perfectly formed and include all the mod-cons buyers would expect. There has, however, been some concern that mortgage lenders would be put off by micro-homes, uncertain whether they are a ‘flash-in-the-pan’ trend or a more long-term investment opportunity.

Need Some Space?

Fortunately, at Keywest we know that there are plenty more Leicester properties out there which will give you more bang for your buck. For those in search of more spacious homes (and let’s face it, who isn’t keen for a little more space), the Leicester housing market has been defying the national trend and seeing continued sustainable growth and an increase in the availability of well-proportioned and affordable homes.

If you’re looking to buy, sell or let a property in and around Leicester, you don’t have to settle on a glorified shoe box – simply get in touch with the experts at Keywest today by calling us on 01162 544 555 or 01162 544 543.