One-person and smaller homes are set to become the norm as the average size of UK households is predicted to fall.
Recent figures from the Department for Communities and Local Government show there is set to be a decline in the average household size from 2.35 to 2.21 people by 2039 and an increase in the total number of households from 22.7 million currently to 28 million.
This research highlights the need for more new housing to be built across the UK, as the total number of households rises by more than five million.
With many households made up of just one or two people, much of the population is likely to be living in apartments and small houses by 2039, making these types of homes increasingly important.
The statistics show that one-person homes are projected to increase by 68,000 each year up to 2039, which amounts to an additional 1.5 million one-person households and accounts for one-third of the total growth.
These figures should be of great interest to landlords and prospective buy-to-let investors, who should tailor their investment strategy to ensure their portfolio is made up of properties that will meet the demands of the market over the coming decades. Woking has a great range of one and two-bedroom apartments that are always popular with tenants and are likely to remain in high demand for many years to come.