However, despite a majority of homebuyers suggesting that they would be undeterred about purchasing a brownfield new-build, over half would want to pay less because it was developed on a brownfield site.
The latest research from Warwick Estates reveals that just 33% of homebuyers would be deterred from buying a home on a former brownfield site, with the majority (67%) unphased about the former life on the land they would be living on.
The biggest concern amongst homebuyers about brownfield plots is that the land may have not been developed appropriately. For example, there may still be contaminants in the soil despite strict rules around bringing these sites up to standard before development can begin.
Many buyers also stated their ability to sell the property in the future as a key concern, with industrial or undeveloped surroundings also cause for concern.
Research also found that 55% of homebuyers would be more inclined to offer below market value for a home that was built on a former brownfield site. A cause of concern for developers and another potential hurdle when encouraging them to utilise these disused areas of land.
