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The Savills Blog

What home buyers want: Georgian still top of the wish list

From stately halls in rolling parkland to old rectories and fashionable townhouses, Georgian architecture continues to capture the imagination of home movers.

In our recent poll of more than 800 registered buyers and sellers, properties from the classically inspired 18th-century building boom proved the most sought after of all – topping the wish list for 19.5 per cent of respondents.

Hot on stylish Georgian heels – both chronologically and in terms of desirability – was the typically well-built versatility of the Victorian era.

This enduring popularity comes despite the 71 per cent who said EPC ratings were important in their home buying decision making. According to Savills research, around a third of homes in England and Wales built pre-war still carry an EPC rating of E or below, increasing to 47 per cent for those built pre-1900. That said, there are significant opportunities for homeowners to reduce the overall carbon footprint of older buildings without compromising their historic significance.

While demand for these as well as more modern and new build homes shows no signs of abating, our survey also underlines the well-publicised under-supply in the current market.

Almost all buyers say that the lack of available housing stock is having a negative effect on their ability to move. This is being felt most acutely at the top end of the market, with 94 per cent of buyers searching for £1 million-plus homes reporting a lack of choice.

The imbalance of supply and demand, coupled with existing high levels of property wealth, will continue to fuel price growth in the coming months, despite the recent interest rate rises.

Of course, it also leaves some would-be sellers in a quandary, unsure whether or not to put their own house on the market without knowing that they’ll be able to find somewhere suitable to buy. Our advice is to take the plunge. It may be possible to arrange a long completion date to fit your timescale and, by becoming a chain-free buyer, you also put yourself in a better position to proceed in this competitive market. 

 

Further information

Contact Frances Clacy and Alistair Heather

View available period properties for sale

 

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