1. Sustained commitment to move

The net balance of respondents committed to move remains high – particularly for those planning to move during the next 12 or 24 months

2. Lack of stock remains a challenge

63% of respondents say a lack of stock is significantly inhibiting their ability to buy a property

3. Financial factors

In terms of interest rate rises, 80% of respondents said that recent increases had no impact on their budget. Just 4% said their budget had significantly decreased, although 25% of those in London said their budget had decreased. For 74% of respondents, the rising cost of living had no effect on their budget. But 47% of those looking at property below £500k said their budget had decreased.

4. Commuting behaviour

Respondents are reassessing travel to work. Now, only 16% are commuting three days or more, compared with 58% pre-pandemic.

5. Importance of energy ratings

EPC ratings are important in decision-making for 68% of respondents (34% said they placed more importance on these than a year ago). If more than 75% of a property’s energy was from renewable sources, 59% would be willing to pay more (see below).

To read more of our Residential Research please visit our Residential Hub

_{Read the articles within Prime UK Residential – spring/summer 2022 below}