A new study of 2,000 homebuyers has found that the average UK home buyer in 2015 has a budget of £205,221, has owned two properties in their lifetime and is most likely to buy a three-bedroom semi in the suburbs with their partner or spouse.
The survey into the home buying habits of the nation by Sarah Beeny’s estate agency, Tepilo, also discovered that 18% choose to buy alone and 17% of those aged 18-24 often opt to buy their first home with friends.
Who people buy with varies from region to region, with those from Wales most likely to buy alone (35%), followed by those in the South East (28%) and Yorkshire (27%). Least likely to purchase solo are those from the North East (3%) and Londoners (12%).
Location of a property is the most important consideration for buyers in 2015 (65%), followed by number of bedrooms (56%) and size of the garden (41%). Buyers are also tempted by the layout of a property (34%), kitchen-diners (29%) and the convenience of a downstairs loo (19%).
When considering the location of a property, good transport links are the most important deciding factor (56%). Being close to shops and supermarkets is key to 44%, as is a low crime rate (39%).
A good local pub is an important factor for 23%, with 35% of 18-24 year olds rating it as one of the top things they look for when buying a home. Those from the East Midlands are most keen on a local tipple, with 33% of them saying a good local pub is essential when buying a property.
Having family and friends nearby is vital for 36%; this rises to 65% amongst people from the North East and drops to just 22% of those from the South West and 23 per cent of Londoners.
Three-bed properties are what the majority of buyers go for (45%), with two-bed residences also proving popular (27%), particularly in the North East and Scotland, where almost half (48%) choose a two-bed. A further 18% opt for a four bed, with less than 5% of us buying studio and one-bed properties.
The age we think we move into our ‘forever’ home, where we’ll spend the rest of our days, is 44, although 20% don’t think such a thing exists, which rises to 33% of those aged 55+.
Meanwhile, 32% have bought a property as an investment, rising to 41% amongst those aged 35-44. 45% of buyers who have invested in property bought the home for their children to live in whilst at university. In addition, 24% who invested in property did so as an alternative to a traditional pension.
Beeny said: “We’ve introduced the Tepilo Buyer Barometer survey to gauge how British house buyers behave in the modern home buying market. With house prices on the rise again and interest rates still at record lows, we’re keen to track buyer opinion.
“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.”