For much of the last two decades, bungalows have quietly slipped out of fashion. Overshadowed by those glossy new build developments, three storey townhouses and open plan ‘modern living’, they became seen by many as somewhere only your granny lives rather than an aspirational home move.

The latest figures from the Office for National Statistics (ONS) suggest something rather unexpected. After years of worsening affordability, the picture has begun to improve. Wages have risen faster than house prices since 2021, nudging the headline affordability ratios in the right direction. On the face of it, that feels like progress.

Young people have been locked out of homeownership. Deposits are impossible to save. Mortgage rules are too strict. And ‘Generation Rent’ is now permanent. According to the narrative by the newspapers, younger generation homeownership has collapsed.

For decades, the flat was the natural starting point for many first-time home buyers. The first rung of the ladder. The affordable option. The stepping stone to something bigger. For landlords, it was a dependable investment. For first-time buyers, it was often the only way in.