When you buy a home, you buy more than bricks and mortar. Facilities and amenities close to the property matter to you, as does the sense of community spirit. This will not be a shock to anyone consider what we have dealt with in recent months.
There is a greater need for community and belonging than there has been for some time, and it is natural buyers will respond to the pandemic by changing what is important to them.
Buying priorities have changed
The impact of the COVID-19 pandemic on buyers can be seen in a study carried out by a leading house builder in the UK. Redrow spoke to more than 2,000 adults in the UK.
The study undertaken by Redrow revealed a top ten of features buyers are looking for when they purchase a new home. The top ten is as follows:
A park or village green with open spaces cited by 35% of respondents
Access to smaller shops such as grocers, baker and a Post office said by 33%
Having a Doctor’s Surgery nearby was listed by 32% of respondents
31% of respondents requested bus and train routes nearby
The importance of a large supermarket close-by was cited by 28% of respondents
17% of people who answered stated they wanted local cafes and restaurants
A pharmacy was listed by 15% of respondents
Good schools was only listed by 14% of respondents
Pubs and bars were named by 14% of respondents
Only 11% of respondents cited the importance of a hospital close-by
James Holmear is the Group Sales Director at Redrow, and he said; “Lockdown has changed our lives dramatically. More time spent in the home has made us reconsider how we use the space that we have, and how our homes can adapt to a more permanent change in the future. Even as more offices re-open, many people will opt to work at home, and people are planning to replace public transport with greener modes of community when they do commute.”
James continued by saying; “This change has translated to huge shifts in buyer preferences on the ground. Now, we are experiencing more customers adapt their search to homes with extra space to work, and more people are looking for proximity to green space and local shops, over good schools, and cafes and restaurants.”
South West London offers a lot to buyers
We think South West London is an ideal destination that provides people the key things that matter. The community spirit is strong here, and we think there is an opportunity for people to connect with others in their community.
There has long been a sense of “the best of both worlds” in this part of the country, and if you are keen to discuss this matter with us, please get in touch.
James also said; “However, planning and budgeting for changes in the home are simplest when buying a new build. With a renovation on an existing or future home, it is very possible that you will run into unforeseen problems which will see your costs go up. With a new build home, not only are you protected with a 10-year warranty, but you can also expect the latest technology and ‘smart home’ features. Buying off-plan often means you can have a say in the design of your home too.”
We have considerable experience and expertise in the South West of London. We are ideally placed to help vendors, tenants and landlords during this challenging time. If you have any questions regarding the South West London property market, please get in touch with Holmes Estate Agents today.