{"id":6100468,"date":"2024-09-13T14:43:33","date_gmt":"2024-09-13T14:43:33","guid":{"rendered":"https:\/\/www.buyassociationgroup.com\/en-au\/?p=6100468"},"modified":"2024-09-13T14:43:33","modified_gmt":"2024-09-13T14:43:33","slug":"buyers-investors-property","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/news\/buyers-investors-property\/","title":{"rendered":"What buyers look for in a property, and how brokers can help"},"content":{"rendered":"

Paresh Raja, CEO of Market Financial Solutions<\/a>, delves deeper into the priorities of today’s property buyers and investors, and how brokers can help.<\/h2>\n

Whether someone is a seasoned investor or a first-time buyer, purchasing a property is often one of the largest financial commitments they\u2019ll ever make. As such, the decision-making process tends to be highly deliberative and carefully considered. After all, a property is a significant purchase to experience ‘buyers regret’ about.<\/p>\n

But what factors go into buyers\u2019 decisions? And what are their priorities<\/a> when it comes to the qualities that a potential property must have?<\/p>\n

These questions were at the heart of MFS\u2019s recent survey of over 400 UK adults who have bought a property in the UK or find themselves in the process of buying one. It was a repeat of an identical survey that we ran in 2021, giving us a valuable insight into how much \u2013\u00a0and at what speed \u2013\u00a0priorities can change.<\/p>\n

Homebuyers\u2019 value transport links more than size post-Covid<\/strong><\/h3>\n

At the top of the list, the survey found that broadband and mobile connectivity was cited as an \u2018important\u2019 or \u2018very important\u2019 factor by 82% of homebuyers, replacing the garden and\/or outdoor space (76%) as the most important factor.<\/p>\n

A property\u2019s proximity to public spaces and parks (74%) is up one place since 2021, alongside the quality and finish of the property (74%), which also shares the third-place spot. Interestingly, the factor that has risen the most in the list is transport links (74%), which has jumped eight places from 14th<\/sup>\u00a0in 2021 to sixth in 2024.<\/p>\n

Conversely, the factor that has fallen the most is the potential for extensions and conversions (62%), dropping from eighth to fourteenth. Similarly, the square footage of a property (72%) has fallen from second in 2021 to seventh this year.<\/p>\n

These figures demonstrate how people\u2019s outlook have transformed since the Covid era. The increased importance of transport links clearly indicates that work patterns have changed, with more people needing properties in well-connected areas as fully remote work becomes less common.<\/p>\n

Meanwhile, the fact people are placing less emphasis on square footage and the potential for extensions suggests a shift towards convenience and connectivity over expansion, marking the end of the Covid-inspired \u2018race for space\u2019.<\/p>\n

Here is the list in full:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Rank<\/strong><\/td>\nThinking about the property you bought or want to buy, how important are the following factors in your choice of property?<\/strong><\/td>\nAll <\/strong><\/p>\n

(% who said \u2018very important\u2019 or \u2018somewhat important\u2019)<\/strong><\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
1<\/strong><\/p>\n

(Up 2 from 3rd<\/sup> in 2021)<\/em><\/td>\n

Broadband and mobile connectivity<\/td>\n82%<\/td>\n<\/td>\n<\/tr>\n
2<\/strong><\/p>\n

(Down 1 from 1st<\/sup> in 2021)<\/em><\/td>\n

Garden and\/or outdoor space<\/td>\n76%<\/td>\n<\/td>\n<\/tr>\n
3<\/strong><\/p>\n

(Up 1 from 4th<\/sup> in 2021)<\/em><\/td>\n

Proximity of public spaces and parks<\/td>\n74%<\/td>\n<\/td>\n<\/tr>\n
4<\/strong><\/p>\n

(Same as 2021)<\/em><\/td>\n

The quality and finish of the property<\/td>\n74%<\/td>\n<\/td>\n<\/tr>\n
5<\/strong><\/p>\n

(Up 2 from 7th<\/sup> in 2021)<\/em><\/td>\n

Garage or off-street parking<\/td>\n74%<\/td>\n<\/td>\n<\/tr>\n
6<\/strong><\/p>\n

(Up 8 from 14th<\/sup> in 2021)<\/em><\/td>\n

Transport links<\/td>\n74%<\/td>\n<\/td>\n<\/tr>\n
7<\/strong><\/p>\n

(Down 5 from 2nd<\/sup> in 2021)<\/em><\/td>\n

Square footage of the property<\/td>\n72%<\/td>\n<\/td>\n<\/tr>\n
8<\/strong><\/p>\n

(Down 1 from 7th<\/sup> in 2021)<\/em><\/td>\n

Whether it was a detached, semi-detached or terraced property<\/td>\n72%<\/td>\n<\/td>\n<\/tr>\n
9<\/strong><\/p>\n

(Down 3 from 6th<\/sup> in 2021)<\/em><\/td>\n

How built-up the local area is<\/td>\n70%<\/td>\n<\/td>\n<\/tr>\n
10<\/strong><\/p>\n

(Down 1 from 9th<\/sup> in 2021)<\/em><\/td>\n

Distance to nearest city or town<\/td>\n70%<\/td>\n<\/td>\n<\/tr>\n
11<\/strong><\/p>\n

(Down 1 from 10th<\/sup> in 2021)<\/em><\/td>\n

Local shops, caf\u00e9s, bars and restaurants<\/td>\n67%<\/td>\n<\/td>\n<\/tr>\n
12<\/strong><\/p>\n

(Same as 2021)<\/em><\/td>\n

Culture of the community and proximity of cultural sites<\/td>\n67%<\/td>\n<\/td>\n<\/tr>\n
13<\/strong><\/p>\n

(Same as 2021)<\/em><\/td>\n

Age of the property<\/td>\n64%<\/td>\n<\/td>\n<\/tr>\n
14<\/strong><\/p>\n

(Down 6 from 8th<\/sup> in 2021)<\/em><\/td>\n

Potential for extensions and conversions<\/td>\n62%<\/td>\n<\/td>\n<\/tr>\n
15<\/strong><\/p>\n

(Same as 2021)<\/em><\/td>\n

Proximity to good schools<\/td>\n59%<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Evolving priorities require innovative financing support<\/strong><\/h3>\n

Our research shows that buyers\u2019 priorities never stand still \u2013 they\u2019re constantly evolving. As such, it falls to brokers and lenders to collaborate to ensure that they can access financial products that can meet their unique needs, no matter how much they change.<\/p>\n

What\u2019s clear is that well-connected areas \u2013\u00a0both in terms of transport and internet connectivity \u2013 will be experiencing elevated levels of demand at present, increasing the competitivity of local markets. Alongside flexibility, speedy financial products will be of significant value to borrowers as demand grows in the months ahead.<\/p>\n

Indeed, previous research carried out by MFS found that 37% of homebuyers have been gazumped in the last decade, with 59% citing delays in getting a mortgage as the reason.<\/p>\n

Therefore, to avoid losing out on a clients\u2019 dream home or desired property, it\u2019s important that brokers seek out lenders who can provide finance at pace to avoid the pitfalls of lengthy processing times and the competitivity of the UK property market.<\/p>\n

To briefly conclude, our research highlights the importance for brokers and lenders to anticipate shifts in buyers\u2019 priorities and adapt by offering financial products that align with these evolving needs. By doing so, they can help clients secure their ideal properties, even as market competition intensifies.<\/p>\n

 <\/p>\n

Paresh Raja is the founder and CEO of Market Financial Solutions (MFS), a London-based specialist lender that provides bridging loans and buy-to-let mortgages. Prior to establishing MFS in 2006, Paresh worked as a senior professional consultant in one of the top five management consultancy firms, and also set up an independent investment group.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Paresh Raja, CEO of Market Financial Solutions, delves deeper into the priorities of today’s property buyers and investors, and how brokers can help. Whether someone is a seasoned investor or a first-time buyer, purchasing a property is often one of the largest financial commitments they\u2019ll ever make. As such, the decision-making process tends to be… Read more »<\/a><\/p>\n","protected":false},"author":2888,"featured_media":6089201,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[179,26],"tags":[257],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/6100468"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/users\/2888"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/comments?post=6100468"}],"version-history":[{"count":3,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/6100468\/revisions"}],"predecessor-version":[{"id":6100471,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/6100468\/revisions\/6100471"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media\/6089201"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media?parent=6100468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/categories?post=6100468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/tags?post=6100468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}