New-build homebuyers were surveyed across the UK to see what they rated as the most important factors when checking out a development for potential purchase.
New-build developments offer above and beyond additional benefits compared to existing housing stock, such as a concierge, aftercare team and onsite amenities, but despite this, the most in-demand feature was private or shared green space in which to relax – the most important for 30% of buyers.
A car parking space ranked as the second most important factor nationally (21%), followed by the availability of amenities within the development (13%), with a close transport link ranking fourth (12%).
High-speed internet (7%) and a good school catchment (6%) were also important, while things like a gym in the development, top of the range appliances, shared social areas, a concierge, aftercare team and perhaps surprisingly, the developer paying the stamp duty, ranked as less important for new-build homebuyers.
However, in London, while green space was the second most important factor, the close proximity of a good transport link topped the table (31%), with parking ranking third (11%), amenities within the development the fourth most important feature (8%) and the property coming with new appliances (7%), a good school catchment (5%) and the developer covering stamp duty also ranking highly (5%).
Michael Stone, Founder and CEO of Stone Real Estate, commented: “We’ve seen a great shift in the new-build sector whereby developers are placing more focus on the lifestyle and well-being of new-build buyers, providing spaces for them to work, relax, stay fit and socialise, with an emphasis on convenience.
As a result, buyers are now searching for the right lifestyle fit for them and not just the right property and this level of innovation by developers in order to remain competitive and stand out from the crowd has resulted in homebuyers getting much, much more for their money.
However, while these additional features are great, this research demonstrates that first and foremost, buyers are looking for the core factors in a development such as good transport links, green space, nearby amenities and car parking availability. These traditional factors should act as the backbone of all new-build developments to which a developer can hang the bells and whistles of a concierge service, an aftercare team and so on.”
