12 Aug August 2020 – What Buyers Want In A Home
You don’t need us to tell you the COVID-19 pandemic is impacting virtually every aspect of life. As local property market specialists, we are here to keep you informed about how the housing market is evolving, and what people are looking for when they search for a new home.
The stamp duty holiday implemented by the Chancellor has helped many buyers to afford the cost of moving, or has helped justify the decision for many prospective buyers. Some industry sources believe the stamp duty measure will lead to an additional 100,000 houses being sold in 2020 and early 2021.
The stamp duty holiday was introduced in July, but it is likely August 2020 will be the month buyers and vendors start to focus on making their next move. Therefore, we want to ensure you know what is happening in the market right now, which is why Anthony Jones is here to help you know what buyers want in a home.
Importance of community and being connected
A recent survey by Redrow states a quarter of respondents, say that living in a strong community post-lockdown is important to them.
Some interesting returns on this topic include:
- People aged between 18 and 35 saw a 33% response in people saying community is important
- For people who are expecting a child or who have a child under 10 years old, this rose to 43%
- 23% of respondents say they will make greater effort to know their neighbours
We believe there is a positive sense of community in and around Darlington. We help sell houses, but we know it is often the external elements that make people feel at home. As part of the sales process, we make sure prospective buyers are aware of what Darlington has to offer, and why they are likely to feel at home here.
The survey by Redrow states over one in five respondents, which equates to 22%, say that walking or cycling to work is important to them. There has been a lot of focus on remote working, but we know this won’t apply to everyone, and that the people who do need to travel to work, are wary of using public transport right now.
We believe this is a trend which will settle down as we move forward, but for now, buyers are looking for property that lets them feel connected to all aspects of their life.
Lockdown home improvements have been evident
The Redrow survey indicates 38% of respondents carried out home improvements during the lockdown. However, close to 50% of respondents who carried out home improvement work said they were only “somewhat satisfied” with the outcomes.
38% of respondents who spent more than six months on a refurbishment or renovation project would be likely to do the same again.
63% of respondents who spent just one day on a refurbishment project said they would be happy to do so again.
Close to 40% of respondents complained they had spent more than they planned to on their most recent renovation project. For homeowners who spent between one and three months on the project, this number rose to 48%.
If you are looking for help with any matter of the Darlington property market, it is best to speak to property professionals. No one knows for sure what is going to happen next, so we won’t claim to have all the answers, but the Anthony Jones team is keen to help you as best we can. If you would like to contact us over housing matters, please call us today on 01325 776424.