What do new-build buyers want from their home? That’s a million dollar question for housebuilders and developers – and a new collaborative report from the NHBC Foundation and Savills offers fresh insight into what motivates people when they choose new-build property.
While the traditional focus on location remains significant, it’s clear that buyers also place high importance on a series of other features such as off-street parking and energy efficiency.
Based on the views of more than 5,400 people who bought new-build homes in the last four years, the report identifies seven core priorities. It finds that although the proximity of amenities, such as schools, NHS services and local transport hubs, are important considerations, they do not drive a house purchase as much as the appeal of key features of the property itself.
The report analyses homes in three categories of location: high-density urban living, medium density in residential or regenerated areas of large towns, and suburban homes which are generally situated within 3km of urban areas. It also looks at the priorities of first-time buyers, upsizers, relocators and downsizers.
Interestingly, as the tables below show, the same top priorities were very consistently selected by buyers across the location categories. In order of importance these are:
- Minimum maintenance
- Off-street parking
- Location
- New home warranty
- Size and design of living space
- Quality of the neighbourhood
- Energy efficiency
But when these priorities are analysed by buyer type we can see how they subtly differ. Downsizers, for example, placed particular importance on energy efficiency, suggesting there is increasing public engagement with this issue amongst older buyers.
And first-time buyers prioritised transport links much more than other buyers and rated Help to Buy as their highest priority, which demonstrates how rapidly a supportive policy initiative can impact the housing market.
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