You are here: Home - News -

Typical buyer has £205,000 budget

by: Adam Williams
  • 08/09/2015
  • 0
A study of house buyers across the UK has found that buyers are most likely to spend £200,000 on a three-bed semi in the suburbs.

A survey from online estate agency Tepilo found the average buyer spends £205,221 on a new property.

This average buyer has owned two properties before and is likely to buy a three-bedroomed semi-detached house. The buyer is looking for a home in the suburbs with their partner or spouse.

However, the survey found the market was becoming more varied than previously. Almost one-in-five (18%) of people now choose to buy alone and 17% of those aged 18-24 buy with friends.

People in Wales are most likely to buy on their own, with 35% of people in the nation choosing to do so. By contrast just 3% of those in the North East and 12% of Londoners do.

Regardless of which part of the UK they are from, buyers value location of their home above all else. Some 65% said this was a key consideration, ahead of number of bedrooms (56%) and size of the garden (41%).

Buyers are also concerned about the layout of a property (34%), kitchen-diners (29%) and the convenience of a downstairs loo (19%).

Sarah Beeny, owner of Tepilo, said: “We’re a nation that’s obsessed with property ownership, so it’s interesting to see how buyers are behaving and to discover the differences across the UK and amongst different age groups.

“It’s also interesting to see that Brits’ love of investing in property is still going strong, a trend I expect will continue as people increasingly look for alternatives to traditional pensions.”

Related Posts

There are 0 Comment(s)

Leave a Reply

You may also be interested in