The average UK home buyer in 2015 has a budget of £205,221, has owned two properties in their lifetime and is most likely to buy a three-bedroom semi in the suburbs with their partner or spouse, a new study of 2,000 homebuyers has revealed.
In an in-depth exploration of the home buying habits of the nation by Sarah Beeny’s estate agency, Tepilo, the survey also discovered that almost one in five of us (18%) chooses to buy alone and those aged 18-24 often opt to buy their first home with friends (17%).
Who people buy with varies from region to region, with those from Wales most likely to buy alone (35%), followed by those in the South East (28%) and Yorkshire (27%). Least likely to purchase solo are those from the North East (3%) and Londoners (12%).
Location of a property is the most important consideration for buyers in 2015 (65%), followed by number of bedrooms (56%) and size of the garden (41%). Buyers are also tempted by the layout of a property (34%), kitchen-diners (29%) and the convenience of a downstairs loo (19%).
When considering the location of a property, Brits rate good transport links as the most important deciding factor (56%). Being close to shops and supermarkets is key for almost half of us (44%), as is a low crime rate (39%).
A good local pub is an important factor for almost a quarter of us (23%), with 35 per cent of 18-24 year olds rating it as one of the top things they look for when buying a home. Those from the East Midlands are most keen on a local tipple, with 33 per cent of them saying a good local pub is essential when buying a property.
Having family and friends nearby is vital for 36 per cent of us. This rises to 65 per cent amongst people from the North East and drops to just 22 per cent of those from the South West and 23 per cent of Londoners.
Three-bed properties are what the majority of buyers go for (45%), with two-bed residences also proving popular (27%), particularly in the North East and Scotland, where almost half (48%) choose a two-bed. A further 18 per cent opt for a four bed, with less than five per cent of us buying studio and one-bed properties.
The age we think we move into our ‘forever’ home, where we’ll spend the rest of our days, is 44, although 20 per cent don’t think such a thing exists, which rises to 33 per cent of those aged 55 plus.
We’re also a nation that isn’t scared to invest, with almost a third of Brits (32%) having bought a property as an investment, rising to 41 per cent amongst those aged 35-44. Almost half (45%) of buyers who have invested in property bought the home for their children to live in whilst at university. In addition, 24 per cent who invested in property did so as an alternative to a traditional pension.
The British Buyer Barometer survey has been conducted by Sarah Beeny’s online estate agent, Tepilo, to uncover the habits of British homebuyers in 2015. It surveyed 2,000 British homebuyers, who have either bought in the past year, are in the process of buying or are planning to buy within the next 12 months.
Sarah Beeny, owner of Tepilo, said: “We’ve introduced the Tepilo Buyer Barometer survey to gauge how British house buyers behave in the modern home buying market. With house prices on the rise again and interest rates still at record lows, we’re keen to track buyer opinion.
“We’re a nation that’s obsessed with property ownership, so it’s interesting to see how buyers are behaving and to discover the differences across the UK and amongst different age groups. It’s also interesting to see that Brits’ love of investing in property is still going strong, a trend I expect will continue as people increasingly look for alternatives to traditional pensions.”
Teplio is an estate agency owned by property guru and TV personality, Sarah Beeny. She set up Tepilo to help redesign the property selling process around the customer, offering hugely reduced fees and 24/7 customer support from a highly experienced team working to help their customers secure the best possible price for their homes. Tepilo also offers customers an easy to use website and an app that allows them to track their property sale on the go and receive instant notifications.
For further information, visit www.tepilo.com.