What different types of property are there?

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high-end-residential-property

In this article, we go over the types of property that are available based on the information from the land registry.

Types of properties defined by the Land Registry

Before you read on, click here to go to the land registry to see the true definition of each property type listed below. Cozee Properties have summarised this information but for exact data and definitions, always refer to the Land Registry’s official website.

House

A house is a property that is self-contained and is not shared with any other property. It typically has its own front door and is spread over multiple floors. Houses can vary greatly in size and design, from small terraced houses to large detached properties. On the Land Registry, a house is defined as a building that is used or suitable for use as a dwelling.

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Bungalow

A bungalow is a type of house that is all on one level, without any stairs inside. Bungalows are usually detached properties and often have generous gardens. Land Registry defines a bungalow as a house that forms a single storey and has no internal steps between rooms.

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Flat

A flat is a self-contained property that forms part of a larger building. A flat will have its own facilities like a kitchen and bathroom. Flats are usually grouped together in a building known as an apartment building. On the Land Registry, a flat is defined as a separate and self-contained set of rooms in a building converted or built for residential use.

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A-flat-in-the-UK

Maisonette

A maisonette is a type of flat that is spread over more than one floor, with internal stairs. Unlike houses, maisonettes do not have exclusive access at ground level. Instead they are accessed via a shared entrance. The Land Registry defines a maisonette as a flat which occupies more than one floor of a building.

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Park home

A park home is a prefabricated house that is assembled on a specific plot of land. Park homes are located on managed sites that rent out the land, similar to a caravan park. On the Land Registry, a park home is classified as a caravan that can be moved but is not located on a road. It is kept on site for use as a dwelling.

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Types of property based on size

In terms of property size, there are types of property that can be filtered based on listing platforms when you’re buying or selling a house but it is useful to know a bit about this information, even if you may think it is obvious

Detached property

Detached houses stand alone, separate from any other building. They offer complete privacy and independence, with no shared walls. Perfect for those seeking peace and quiet. Detached homes typically have generous room sizes and larger gardens. 

They are common in rural areas and the suburbs. Buying a detached property in London comes at a premium. With Cozee, you can easily view pricing estimates for detached properties in your preferred London neighbourhoods.

Annexed property

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Annexed properties appeal to buyers wanting flexible home options. Cozee offers annexed properties to match your needs, along with guidance on regulations and rental income potential. Find the price of annexed property specific to the areas you’re interested in using our property pricing pages.

Semi detached property

Semi-detached houses share a wall with a neighbouring property. They offer more privacy than terraced housing but less than a fully detached home. Semi-detached properties typically have at least three bedrooms and a private backyard. 

They are very common across the UK. In London, semi-detached homes often provide an affordable way to live in family-friendly neighbourhoods. View semi-detached listings on Cozee and connect with our property managers about making an offer and check out property prices near where you live.

Flats

Flats, also called apartments, occupy one or more floors of a building with multiple units. Flats offer an affordable way to live in central, urban locations like London. They require less maintenance than houses. Flats come in all shapes and sizes, from studio flats to penthouses with multiple bedrooms. 

Maisonettes

A maisonette is a flat with two or more stories, occupying its own floor(s) in a building. Maisonettes offer more space and privacy than typical flats. They may have an internal staircase and their own outdoor space. Maisonettes are popular for families and professionals. See current maisonette listings in prime London areas on Cozee and contact us about arranging viewings.

Studio flats

Studio flats consist of a single living space with a kitchenette and bathroom. They provide an affordable housing option for singles and couples. Studio flats in London offer a great city base. Cozee has a wide selection of London studios available to rent or buy. Our lettings team can also help you list and manage your own studio investment property.

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Properties with land

Properties with land provide extra space for outdoor enjoyment. Having a private garden or acreage appeals to buyers wanting room for hobbies, pets, or privacy. In London’s outskirts, it’s possible to find properties with paddocks or land a couple acres in size. Search for your ideal property with land on Cozee. Our buying agents can negotiate on your behalf.

Buying farmland

Purchasing farmland or rural land typically involves working with a land agent. They will help value the land, review usage regulations, and bid at auction if needed. At Cozee, our property buying specialists can liaise with land agents to support purchasing farmland that meets your needs. We handle everything from finding the land to conveyancing.

Types of property based on the law

There are two different types of property that follow their own rules and regulations in the UK. These are residential property and commercial property and you can see the governmental definitions here.

For instance, the same tenancy agreements that are used for commercial tenants cannot be used for residential and there the property requirements are different for each type of premises too. The below headings talk about this in more detail.

Residential property

A residential property is a home, apartment, condo or other dwelling intended for people to live in. Residential properties can vary greatly in size, from studio apartments to large single family homes. They may be rented or owned. 

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Key features of a residential property include having a kitchen, bedrooms, living area, and bathroom intended for regular domestic use. Residential properties are zoned for housing and have special regulations compared to other property types.

Some of these regulations may be found in governmental housing law here. Specifically, the housing act of 2004 states that houses must not have hazards that are a threat to tenants, must be able to be repaired if there are emergency measures and should have the right licensing if it is a HMO property.

To have a tenant in a residential property, you will need to sign them with an assured tenancy agreement and begin looking at the regulations for electrical and gas safety and energy performance.

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Commercial property

A commercial property is real estate intended for business, commercial or industrial use, rather than residential living. Examples of commercial properties include office buildings, warehouses, retail stores, restaurants, hotels, factories, and medical offices. T

The primary purpose of a commercial property is generating profit through business activities, not providing housing. Commercial properties typically have features suited for their business purpose, like storefronts, meeting rooms, open work areas, loading docks, etc. They are specially zoned for commercial/business use.

Mixed residential property

A mixed use property is a building that combines different types of uses, typically residential and commercial. In a mixed use building, some floors or units are used for housing, while others are used for retail stores, offices, or other businesses. 

For example, a mixed use building could have apartments on the upper floors and shops or restaurants on the ground level. Mixed use properties allow people to live, work, and access amenities all in one building or development. Their versatile nature makes them popular for urban planning.

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What type of property is the cheapest?

When looking to purchase property in the UK, there are certain types of homes and buildings that tend to be the most affordable options on the market. The cheapest properties often require some work, but can be turned into great investments with renovation and strategic buying.

If you are looking for investment property without the hassle of renovation, check out the selection of new build properties offered by Cozee below.

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Property that needs renovation

One of the most budget-friendly types of real estate is property that needs significant repairs or complete renovation. These fixer-upper homes tend to be priced far below market value, allowing buyers to purchase them cheaply and then invest money into repairs and upgrades. A dated, run-down house with good bones can be transformed into a beautiful home through strategic renovations. The buyer gets the benefit of added property value from their investment of time and money into renovations.

The worst houses on the best streets

Similarly, buying an outdated or unattractive home on a highly desirable, expensive street can be a way to purchase property in a prime location for a fraction of comparable prices. Even though the home itself may be a bit of an eyesore, the valuable location means there is potential to renovate it into a beautiful, valuable property or tear it down to build new. The old adage “location, location, location” means an ugly duckling home in a prime spot has investment potential.

Auctioned property

Purchasing a property at auction often allows buyers to acquire real estate below market value. Auctioned homes may be distressed, bank-owned properties or part of an estate sale. Because auctions need to liquidate the property quickly, they are motivated sellers willing to sell for a low price. However, buying at auction can also be risky if the property has undisclosed issues or lien complications. Doing thorough research is key. 

Leasehold flats

For buyers looking to purchase a flat, opting for a leasehold property instead of a freehold can provide significant savings. Leasehold means the buyer owns the flat itself but not the freehold of the building and land it sits on. While leaseholds come with restrictions, they trade for up to 20% lower prices than comparable freehold flats, so they can be a smart way to buy affordable property as a first-time buyer.

Property with unfinished renovations

Some sellers start extensive renovations to a home but run out of money or motivation before completing the project. This leaves the partially upgraded property in a state of limbo – more valuable than the dated original, but less valuable than a completed renovation. For a buyer willing to invest the time, money and work into finishing the remodel, this can be an optimal way to purchase and add value.

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What type of properties are the most expensive?

When it comes to premium real estate in the UK, a few select categories stand out for commanding the highest prices. From grand castles to ultra-luxury London homes, these prestigious properties sit atop the market.

Castles

Castles represent the epitome of luxury living in the UK. As structures steeped in history and grandeur, castles carry price tags in the multi-millions. British castles boast sprawling footprints on vast acreages, period architecture, lavish interiors, and premium locations. Whether as private residences or luxury hotels, castles provide the ultimate in extravagance and exclusivity. However, their rarity means castles are purchased by only the wealthiest elite.

High-end residential property

For more conventional luxury living, newly constructed high-end homes in major UK cities like London and Manchester also sit at the top of the market. Multi-million pound mansions and penthouses offering the latest in amenities and designer finishes target wealthy buyers who want prestige without the hassle of maintaining a castle. Prime locations, architecture, and privacy command premium prices for these ultra-luxurious urban homes.

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Property in zone 1 of London

No city in the UK matches London for astronomically priced real estate. The most desirable and costliest properties sit within London zone 1, right in the heart of the capital. From ritzy Mayfair and Belgravia townhouses to sleek modern flats overlooking the Thames, central London homes consistently break records with multi-million asking prices and purchases. For the ultimate in cosmopolitan, high-society living, zone 1 represents the peak.

For those with vast means, owning one of these trophy properties represents the pinnacle of UK luxury real estate. From regal castles to sleek London penthouses, the sky is truly the limit at the top of the market. For the wealthy elite, especially overseas buyers, prestige carries an ultra-premium price tag.

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