Beyond location, location, location:

priorities of new-home buyers

Beyond location, location, location: priorities of new-home buyers
Foreword

12 April 2018, by Savills Research & NHBC Foundation

The results of this collaborative survey highlight what today's buyers prioritise when looking for a new-build home

We are without question at a defining moment for UK house building. The industry is facing a series of very important challenges. As well as the pressure to deliver more homes, we also need to focus on raising quality, a task made more demanding by current and projected skills and workforce shortages. We are also seeing major demographic changes and an increasingly diverse market with first-time buyers, upsizers, relocators, downsizers and those needing specialist accommodation, each with their own particular needs.

 

How we respond to this complex and increasingly discriminating market lies at the heart of this important new research taken forward in collaboration between the NHBC Foundation and Savills. With feedback from over 5,400 new-home buyers across Great Britain, it explores what was important to them when they made their purchase. It identifies a set of core priorities and shows what is most important to different types of buyers.

Unsurprisingly there are significant variations between the priorities of different groupings. First-time buyers are naturally concerned about affordability and the availability of Help to Buy is of high importance to them. Access to transport, including trains and buses, is of greater importance to those buying in central urban locations than those buying in suburban locations who attach greater priority to car parking. Upsizers have a particular interest in access to good local schools, while downsizers, who also tend to be older, put a greater emphasis on energy efficiency and access to local NHS services.

Reaction from reviewers confirms the timeliness of this report as a contribution to the better understanding of the different buyer categories and what they are looking for. It tells us that the traditional approach, characterised as a disproportionate focus on the production of family homes alone, may no longer be a tenable business strategy.

I hope that this latest research will prove to be of widespread interest, and also prove helpful to all those involved in the range of activities which together determine the shape and character of future housing developments.

Rt. Hon. Nick Raynsford

Chairman, NHBC Foundation

Articles from 'Beyond location, location, location'

The survey

12 April 2018

The survey

This joint survey between Savills and NHBC Foundation looks to understand what motivates people in buying a new-build home

Survey results

12 April 2018

Survey results

The results from the survey serve to help us understand what people are prioritising in the different aspects of buying a new-build home, from features within the home itself to the amenities it is close to

Differentiating the market

Breaking down the core priorities of buyers by where they are choosing to buy, and their life stage, provides an insight into what needs to be built to accommodate different needs

Summing up

12 April 2018

Summing up

Overall, buyers are choosing to look at more than just location when buying a new-build home.

 
 

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Key contacts

Gaby Day

Gaby Day

Research Analyst
Residential Research

Head Office London

+44 (0) 20 7299 3003

 

Emily Williams

Emily Williams

Associate Director
Residential Research

Head Office London

+44 (0) 20 7016 3896

 

Jim Ward

Jim Ward

Director
Residential Research and Consultancy

Head Office London

+44 (0) 20 7409 8841