The British have a unique relationship with property. As a nation we have a deep-rooted urge to own our own property and maintain an up-to-date perspective on all things property-related. In fact, we do this much more than some of our neighbours on the Continent. To this end, Sarah Beeny’s Tepilo decided to take a step into the mind of the average 2015 property buyer.
Tepilo carried out a survey of 2,000 home buyers, otherwise known as their ‘British Buyer Barometer’. This research set out to understand the thought and decision making process of those who have either bought a home in the past 12 months, are in the process of buying, or are planning to purchase within the next year. The results certainly make for interesting reading:
The survey revealed that the average buyer in the UK currently has a budget of £205,221, and has owned two properties in their lifetime. It also showed that Brits and are most likely to purchase a three-bedroom semi in the suburbs with their partner or spouse.
When it comes to selling your property, it is important to understand what the average homebuyer is looking for and what they prioritise when they are searching for their next home. Here’s what Sarah Beeny’s Tepilo found…
At the top of the priority list of buyers in 2015 is location, with 65% of those surveyed outlining this as their most important consideration. This is closely followed by number of bedrooms (56%) and the size of the garden (41%).
In addition, buyers place a strong focus on the layout of a property (34%), the inclusion of a kitchen-diner (29%) and the convenience of a toilet downstairs (19%).
Low crime rates and good local amenities are another strong consideration. And as Brits, it’s no surprise that a quality local pub is a major selling point for nearly a quarter of people (23%).
Tepilo found that of the 2,000 people they surveyed, good transport links are seen as the most crucial factor when it comes to location, as people want to live somewhere that provides the opportunity to easily get to work as well as easily engage in other social activities.
In terms of the size of properties, 45% of buyers are on the lookout for three-bed homes, while 27% are keener on two-beds. On the other end of the spectrum, 18% choose a four-bed property, and less than 5% purchase studios or one-bed houses.
As Sarah Beeny puts it, “We’re a nation that’s obsessed with property ownership. The British property market is forever changing and evolving… and constantly keeps us engaged and on our toes. It’s such an exciting and often lucrative aspect of British living that the majority of the country seem to have at least some level of interest in it”.