This is a term without a fixed definition and probably misused by some in the industry. A period property can loosely be defined as any property built before the First World War. In practice this is likely to be Edwardian (the period approximately from 1901 to 1914) or Victorian (1837-1901). Properties built prior to that could be considered period but often more specific descriptions such as Georgian or Regency are used to show their elevated status above the Victorian and Edwardian buildings. Around one third of properties in the UK were built before the First World War and most of these are Victorian.