Market Financial Solutions (MFS) releases a new report on the sentiments of UK homebuyers towards new build and traditional properties, and homebuyers’ confidence in the government to deal with the housing crisis.
Key findings include:
- 81% of UK adults are unenthused by the prospect of living in new-build housing developments
- 79% of UK adults think the Conservative government should focus more on supporting the refurbishment of run-down properties to meet housing demand
- 60% of Brits feel there are too many poorly built, unattractive new builds popping up across the country
- 23% of UK adults would consider buying a new-build property as a buy-to-let investment opportunity, refusing to live in recently constructed properties.
Paresh Raja, CEO of MFS said:
“Since the EU referendum in June 2016, investor appetite for bricks and mortar investment has remained persistently strong, offering a competitive rate of return at a time when traditional safe-haven assets seem unable to deliver high yields.
“As a consequence, nine million UK investors are looking to real estate during the unfolding Brexit negotiation period.
“In response to the mounting pressure of market demand, the average UK house price is on track to rise from £220,094 to £300,000 by 2025.”
“The charms of traditional- and heritage-style houses have proven consistently popular, offering quintessential British charm, historical legacy and unique architectural integrity, extending from Tudor manors to Jacobean houses and Victorian terraces.
“At the other end of [the] spectrum lies new-build properties, boasting customisable designs, open communal spaces and modern fittings.
“Moreover, for those seeking to marry the charm of a traditional house with the latest in contemporary design, refurbishment projects have become an increasingly popular investment venture for those seeking a fast turnaround.”
MFS surveyed 2,000 UK adults.
“With market demand significantly outweighing supply, the research also reveals how investors perceive the government’s capability to address the housing crisis, and prescribes a series of measures to ensure prospective homebuyers are in a position to act on their property intentions, while positively contributing to the nation’s housing supply,” added Paresh.
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