Since 2016 there has been an extreme shortage of properties for sale which has fuelled the rise of off plan properties.

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In the UK and Wales alone in 2021, 37% of households that were purchased were off plan property sales. The second highest of all time since 2017 (which was at 47% at its peak). As the price of houses increase this is leading home buyers to look at alternative solutions hence why off plan sales are increasing.

Data shown by the agency Hamptons has shown the rise in off plan house sales alongside off plan apartment sales. 24% off detached homes were completed in 2021 and sold as off plan properties which is an increase by 3% since 2020. The figure has since been rising leading to 41-45% for terraced homes and 31-33% for semi-detached homes.

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Since 2007 terraced off plan houses popularity have sored with 53% of home buyers purchasing them before completion. This means that in comparison to apartments, terraced houses have taken the market by storm. From the data collected it also shows that home buyers are more likely to be the main occupiers of the home rather than renting it out. Due to the stamp duty changes since 2016, the off plan section of the property industry has become increasingly popular amongst investors as they have proven on many occasions to be very profitable for investors.