28
May
Brits opt for older houses in search of the dream home
New research has revealed that more than half of British homeowners
would be willing to buy an older property in need of repair in
order to get the home of their dreams.
Yorkshire Bank's quarterly Housebuyers survey also found that
bargain period properties are more popular than modern homes, while
78 per cent of first-time buyers said that the security of a
National House Building Council guarantee would not persuade them
to opt for a new-build.
However not all buyers were willing to take on building or
renovation work, with 69 per cent of respondents in their twenties
saying a new build in perfect condition would be top of their wish
list.
Gary Lumby, Yorkshire Bank's head of retail, commented: "In the
current climate, it seems house buyers are on the lookout for a
bargain and will take on relatively major renovation work …
if it helps them to secure their dream home for a more affordable
price."
Research released earlier today by Halifax showed that 28 per cent
of homeowners are planning to make improvements to their property
this year in order to add value.
