According to new industry data, homebuyers now prioritise superfast broadband as being more important when searching for a new home than being close to a good school.
This new industry data, along with the introduction of the government backed 95% Loan To Value (LTV) mortgages and the Stamp Duty holiday has meant that the top priorities of homebuyers when looking for a first or new home has shifted.
A garden and parking space came out on top with 60% and 40% of the potential homeowners surveyed, claiming it is an essential part of a property search. Another survey of 3,000 UK adults found that 32% of British people preferred a home set in a rural location, compared to just 10% who said they would prefer a home in a city centre location.
The pandemic has caused a significant rise in people who work from home, resulting in many office workers creating temporary work stations in spare rooms and on dining tables.
In light of this, just one in 16 adults claimed that having a permanent home office space would be a necessity. Other essentials that came before a home office are a property that is close to budget supermarkets (15%) and a local pub (8%)
Another preferred essential feature to a home was superfast broadband. In-fact twice as many of those surveyed (24%) stated that they would prefer superfast broadband compared to the 12% who would prefer a home near a good school (12%) or a home that was within a close community with friendly neighbours (12%).
The Top 20 priorities for homebuyers were:
• Already completely refurbished (11%)
• City centre location (10%)
• Separate garage (9%)
• Close proximity to a public park (9%)
• Close to family (29%)
• Superfast broadband available (24%)
• Close proximity to budget supermarkets (15%)
• Close to workplace (14%)
• Close to friends (13%)
• Friendly neighbours/ close community (12%)
• Close proximity to good schools (12%)
• Close proximity to luxury supermarket (8%)
• Close proximity to a local pub (8%)
• Good selection of takeaways (6%)
• Good public transport availability (32%)
• Home office space (6%)
• Rural location (32%)
• New build property (5%)
• Parking space (40%)
• Garden (61%)
Alison Jarman, director at Smooth Moves Property Agents, said: “Covid has shifted the market landscape for homebuyers. Numerous lockdowns have resulted in more people eagerly waiting to embrace their friends. It is no surprise that more rural based homes and gardens topped the list for the most popular feature when looking for a new home.”
“To give yourself a better overview of the areas best suited towards your needs and to narrow down your property search, I would recommend creating a list of non-negotiables for your new home.”
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