Half of homebuyers go to richer areas during the first quarter of 2021 real estate boom, seminars, hedge fund correspondence, etc. home buyers. The monotony of months at home due to locking restrictions […]
April 16, 2021
4 minutes of reading
This story originally appeared on ValueWalk
Half of homebuyers go to richer areas within real estate market boom
Research of the real estate agent comparison website, GetAgent.co.uk, has revealed how much the pandemic has meant in shaping UK home buyers’ real estate preferences.
The monotony of the months at home due lock restriction has caused many homebuyers to reevaluate what’s important in a property, with larger homes and more outdoor space becoming a motivating factor for them to buy.
At the same time, holiday stamp savings and continued low mortgage rates have allowed many to make this change.
Homebuyers buy homes in richer areas
GetAgent research shows that 57% of homebuyers who have bought in the past six months were able to afford a larger home, giving them more space to help them offset the boredom of being stuck indoors Future.
28% have bought a home of the same size, while only 15% have bought a smaller property.
But it’s not just UK property home buyers to be upgrading. While 47% had bought their newest home in the same or similar area as their previous property, 40% said they could buy in a richer area than before.
Again, only 13% had to buy in less affluent areas than before.
Finally, with our social lives still limited and summers fast approaching, it’s no surprise that 86% of recent home buyers were able to buy a home with complete outdoor space. that’s important.
Various factors Increase buyer confidence
Founder and CEO of GetAgent.co.uk, Colby Short, commented:
“The current market sentiment is extremely positive although broader uncertainty is still attributed to Covid.
Interest rates are still extremely favorable for those looking to finance their purchases through mortgages, the stamped savings offer has now been extended to the end of September for many, and there are factors other influences such as 95% and latest mortgage products Help program to buy.
All of these are helping to increase buyers’ confidence not only in the transaction but also in the size and location of the property they want to own. The trend towards larger homes and outdoor spaces not only helps more people climb the property ladder, but it also looks like they’re climbing the social ladder, moving into affluent areas. than the other way around. “
|Based on your recent purchase, can you afford a bigger home?|
|No, same size||28%|
|No, I have to buy smaller||15%|
|Based on your recent purchase, can you afford to buy in a richer area?|
|No, same or similar region||47%|
|No, you must buy it in a less affluent area||13%|
|Based on your recent purchase, can you afford a home with outdoor space?|
|It’s correct||eighty six%|
A recent survey of 1,219 UK homebuyers (past six months) by GetAgent (April 7, 2021).
Notes for Editors:
- The survey is conducted through a consumer research platform Find out now
- GetAgent retrieves data from all major gateways which are then cross-referenced with the Land Registry using their proprietary algorithms and input from partner agents.
- GetAgent is the UK’s entire real estate agent comparison website. Analyze performance through data to inform home sellers about the best dealers.
- Founded in 2015 by Colby Short (Stevenson Cartwright; SMG Worldwide) and Peter Thum-Bonanno (Find the Right Way; Analysys Mason)
- Backed by Seedcamp, a rich venture capitalist technology investor
- And so far it has received more than 100,000 agent requests from a real estate seller with a net worth of £ 30 billion and is currently serving more than 10,000 requests per month.