For immediate release
House hunting post-COVID: Having a garden is the top priority for Brits when buying
- Outdoor space takes the top spot with a third of Brits saying it will be one of their top three considerations when they purchase a home.
- 8% of the UK won’t buy a property or buy another one if they already have one.
- Of those who would buy again, over a third said they would most likely buy with their partner as opposed to on their own or with a family member, friend or spouse.
17 August 2020, LONDON –
We’re not a country famed for its great weather, but when it comes to buying a new home, outdoor space is Britain’s top priority according to personal finance comparison website finder.com.
The study asked respondents to select their top 3 priorities when buying a new home and, perhaps influenced by the recent lockdown, 1 in 3 Brits (33%) said having a garden, and the size of their outdoor space, was one of their most sought-after features.
Size is the second most important factor, with 28% of Brits also listing it as one of their top three considerations when buying a home. A quarter (24%) said that parking was a top priority, making it the third most important quality for Brits on the property market.
Outdoor space proved to be the main attraction for most generations, with millennials (27%), generation X (35%), boomers (40%) and the silent generation (31%) all listing it as their most commonly sought-after feature when it comes to buying a new house. Bucking the trend were generation Z, with 29% listing good transport in their top three priorities, making it the most popular feature for that generation.
The least important factors for Brits looking to buy a home were how the local housing market is performing and the cost of insuring the property, with only 2% of respondents saying either of these options was one of their top three priorities. Interestingly, only 4% of respondents said that being close to childcare was important to them making this the third least popular consideration.
Are we planning to buy and who are we buying with?
Saving for a house deposit is becoming harder and harder, so it’s not surprising that 8% of the UK say they will not buy a property or buy another one again, with 5% of both generation Z and millennials saying they will never buy a home.
When it comes to who they say they will buy a home with, over a third (34%) said that they will do so with a partner, suggesting that Brits are typically buying homes with their partners before getting married with a quarter of Brits (25%) saying they will buy their next home with a spouse. Despite high house prices 22% said that they would be able to buy a place on their own.
Commenting on the findings, Matthew Boyle, mortgage expert at finder.com said:
“Since lockdown, outdoor space has become a bigger priority for many Brits. This has meant that many of those who live in flats or in cities are looking to move into properties with better outdoor provisions. Some have even relocated to the countryside where there is more space and these results show this. This trend will likely continue especially due to concerns around a second wave.
“It’s also no surprise that for some Brits buying a property is the last thing on their mind. With the current financial uncertainty and poor interest rates, saving up for a house feels like an uphill battle. However, for those who are considering it, budgeting apps such as Money Dashboard can be extremely useful to help allocate some funds for saving which can be used to boost your deposit on a house or flat.”
Methodology: Finder commissioned Onepoll on 7 – 11 August to carry out a nationally representative survey of adults aged 18+. A total of 2,000 people were questioned throughout Great Britain, with representative quotas for gender, age and region.
The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on finder.com's review pages for the current correct values.
finder.com is a personal finance website, which helps consumers compare products online so they can make better informed decisions. Consumers can visit the website to compare utilities, mortgages, credit cards, insurance products, shopping voucher codes, and so much more before choosing the option that best suits their needs.
Best of all, finder.com is completely free to use. We’re not a bank or insurer, nor are we owned by one, and we are not a product issuer or a credit provider. We’re not affiliated with any one institution or outlet, so it’s genuine advice from a team of experts who care about helping you find better.
finder.com launched in the UK in February 2017 and is privately owned and self-funded by two Australian entrepreneurs – Fred Schebesta and Frank Restuccia – who successfully grew finder.com.au to be Australia's most visited personal finance website (Source: Experian Hitwise).