MFS

Outdoor space, broadband connectivity and proximity to parks have become more important to homebuyers



674_2021-10-11-04-51-54pm.gif
Garden and outdoor space is the most important factor for buyers when searching for a new home, revealed the latest data from Market Financial Solutions (MFS).

The specialist lender conducted a study among 1,282 UK homebuyers to assess the aspects that matter most when searching for a new property.

The findings were compared to an identical survey MFS carried out in 2019 and have been published in its new report, The Homebuyer Wishlist 2021.

It revealed that 92% of homebuyers cited garden and outdoor space as ‘important’ or ‘very important’ to them.

A property’s square footage was second (89%), with broadband connectivity now the third most important consideration (88%).

The quality and finish of the interior (85%) was fourth on the list, with proximity to public spaces and parks rising six places to number five — 84% of homebuyers consider this to be important, whereas only 79% said the same two years ago.

Meanwhile, only 67% of people surveyed noted transport links as a significant factor, a fall from 2019’s results (83%).

Proximity to the nearest town or city has also declined in importance, with 74% selecting this option compared with 87% previously.

Paresh Raja, CEO at MFS, said: “It’s no secret that the pandemic has altered people’s perspective on what they want and need from their homes. 
“Remote working and social distancing mean the majority of Britons now spend much more time in their own homes, while access to outdoor space for both exercise and socialising has become far more important.

“It will be intriguing to monitor these trends if lockdown rules are fully lifted on 21st June. 

“It is likely that the appeal of being near to city centres will return, as will the value of good transport links for work and social purposes. 

“Yet, for now, it is clear that demand has changed, which is leading to fierce competition for properties that tick these all-important boxes.”

Leave a comment