When Savills asked 426 prospective buyers across the country whether they would consider a new build property, 44 per cent of those questioned said they would.
Older clients were more keen than younger ones: more than half of those aged over 60 expressed an interest, while only 31 per cent of 30-39 year-olds said they would consider buying a new house.
It’s not surprising that new properties appeal more to older buyers. Those looking to downsize mentioned ease of management and lower maintenance costs. Older buyers also appreciate the security features offered by new houses. Many also favoured the suburbs as the ideal location.
What was most surprising was that 30 per cent of older buyers mentioned technology as a key feature, compared with only 15 per cent of under 60s.
As the demand for new build homes grows, the message to developers is clear: the older generation and equity rich downsizers will be playing a key part in the marketplace and investing in plenty of technology will be key.