Why Smaller Households...

A Century of Shrinking Households

Here’s how household sizes have changed over the years:

• 1921: Average household size = 4.3 people
• 1971: Dropped to 3.2 people per household
• 2021: Now at 2.36 people per household

In Cannock Chase, the average household size is slightly smaller, at 2.31 people per home.

What does this mean? Even if the UK’s population remains steady, shrinking household sizes will require 11.5 million new homes over the next 50 years. But with only 210,230 homes built annually, we’re falling behind.

Household Size and Housing Tenure

• Homeowners with No Mortgage: 82% of these households have just 1-2 people, often retirees or older individuals whose families have grown up and moved out.
• Private Rental Market: Fascinatingly, the private rental sector mirrors the national average, with household sizes spread evenly across 1-4+ person homes.
• Council Housing: Single-occupant households make up 41% of council housing, showing how smaller households dominate this sector.

Spotlight on Cannock Chase

In Cannock Chase’s private rental market:

• 37.6% of homes are single-occupant households.
• 29.7% are two-person households.
• Just 15.9% house four or more people.

This data underscores the rising demand for smaller homes in the rental market, especially one- and two-bedroom properties.

What This Means for Rugeley’s Property Market

1. For Homeowners: Smaller households support long-term property value growth. Fewer people per household mean more demand for homes, providing stability and peace of mind.
2. For Buyers: The trend toward smaller households ensures resilience in the market, making Rugeley a smart choice for living or investing.
3. For Landlords: With two-thirds of private rental properties in Cannock Chase occupied by one or two people, smaller properties are a great opportunity for buy-to-let investors.

Why Focus on Smaller Properties?

For landlords, smaller properties are the key to unlocking long-term success. Here’s why:

• Better Yields: Smaller homes often have lower purchase prices but deliver higher rental returns.
• Broad Demand: They appeal to a wide range of renters, from young professionals to older individuals downsizing.
• Flexibility: Compact, affordable housing ensures consistent occupancy rates.

Let’s Talk

Whether you’re a landlord looking to align your portfolio with market trends or just curious about the future of Rugeley’s property market, I’m here to help.

Give us a call to discuss how these trends could work for you. There’s no cost or obligation—just insights tailored to your needs.

Rugeley’s housing market is evolving, and now’s the time to stay ahead of the curve. Smaller households are the future, and smaller properties are the key to success.