Location still the most important thing for buyers
11 September 2014
According to a recent consumer property survey by eMoov.co.uk, location is the most important element for people when they are deciding to purchase a home.
It’s been repeated many, many times and there’s even a Channel 4 series reiterating the point, but the top requirement for property buyers remains Location, Location, Location. In fact, it is seen as more important than the property itself, with 74% saying they would rather be in the perfect area than the perfect home.
Excellent transport links in the surrounding areas are also very important, with 77% of those surveyed citing it as a key consideration. If there are good transport link, people are more willing to accept a longer commute, highlighted by only 44% of people stating that local job opportunities are important.
Neighbours, meanwhile, are also seen as a huge factor when it comes to buying a new home. As the famous theme tune to the Australian soap goes, ‘neighbours, everybody needs good neighbours’, and most people seem to agree, with 90% stating that they care greatly about who their new neighbours are.
Slightly surprisingly, school catchment areas aren’t as important as many would assume, with just over half of people surveyed answering it would play a big part in their next purchase.
“It's a bit of a cliché, but location still remains as the most critical requirement for people's next property move,” Russell Quirk, CEO of eMoov.co.uk, commented. “Whether people want the idyllic village, perfect school catchment, house price rise or transport links, our research shows people are always willing to compromise on the property in favour of the location.”
As part of the same research questionnaire, eMoov.co.uk also asked property buyers what items they most desired in their next property purchase. A garden ranked highest, with 93% considering this as a vital factor. Next highest was a parking space or driveway (90%), whilst 70% believe room for a guest bedroom to be important.
Dependent upon their location in the house, the level of importance placed on bathroom varies. 65% said a downstairs bathroom was important, but by contrast only 35% said that an en-suite in a master bedroom was vital in their property choice.
Potential to expand property received 56% of the vote, whilst 45% placed importance on a utility room. Just 26% considered a dishwasher to be a key aspect of any property purchase.