We asked buyers and prospective buyers to tell us about their experience of looking for and purchasing property, to better understand their preferences, their challenges and the trends across the market.
In this year’s survey, we found that first-time buyers are looking for properties in a higher price range compared to last year. 36% of first-time buyers intend to buy a property over £180,000, compared to 31% last year. Preferences towards property type have also changed, with 43% of first-time buyers wanting a detached property, compared to 33% last year.
With regards to home movers, 41% intend to buy a property between £200,000 and £300,000, compared to 36% of home mover respondents wanting property in this price range in last year’s survey. The desire to have a bigger home remains the top reason for home movers to purchase.
This year, we also looked at how the current cost-of-living crisis is impacting property purchasing decisions and have found that around 80% of first-time buyers and home movers are currently being negatively affected. And, for half of all those who intend to purchase a property, the rising cost of living has impacted their decision to buy, with three-quarters of those now more likely to wait.
Last modified: 24/11/2022