If you have any property plans in 2020, it is helpful to know what people are looking for. If your priority is finding a new home, it is helpful to know what buyers are looking for, as this will be your competition in the housing market.
Also, by looking at the demands of other buyers, you might pick up on some features you have previously overlooked or weren’t aware of.
If your main focus is selling your home, it is vital to know what buyers are searching for when they look for their next house. When you know what buyers want to see, you can tailor how your home is presented and promoted, increasing the likelihood of connecting with likely buyers.
At Austin Property Services, we are pleased to say we have assisted many buyers and vendors connect. We also stay in touch with the latest market trends, so if you are keen to make an informed decision, get in touch, and we will be happy to assist you.
Importance of community
A recent Redrow survey states a quarter of respondents, say that living in a strong community post-lockdown is important to them.
Some interesting returns on this topic include:
People aged between 18 and 35 saw a 33% response in people saying community is important
For people who are expecting a child or who have a child under 10 years old, this rose to 43%
23% of respondents say they will make greater effort to know their neighbours
At Austin Property Services, we believe our local community is a massive factor in why prospective homebuyers look for a house in this area. Worryingly, the importance of community, and how funding is provided to essential groups has now become a political issue.
Labour Leader Keir Starmer spoke to the BBC, saying; “At the beginning of the pandemic, councils had to do lots of things to support their communities, whether that was provision of food, of services, care centres, bringing homeless people in, really important stuff. And they were told by [the government] 'we will stand by you - we'll support you - you get on and do what you need to do'. So they did.”
The Labour Leader continued by saying that many councils were now "facing bankruptcy, or cutting back services, which is the last thing anybody needs, and the government has got to recognise this".
England's Minister for Local Government, Simon Clarke, said the £3.2bn funding already given to local authorities was “part of a wider package of support from across government for local communities and businesses - totalling over £27 billion - including grants, business rate relief and for local transport”.
Lockdown home improvements
During the lockdown, we know many homeowners made changes to their home. This might influence the demand and value for your home, so it is helpful to be aware of the impact of this work.
The Redrow survey indicates 38% of respondents carried out home improvements during the lockdown. However, close to 50% of respondents who carried out home improvement work said they were only “somewhat satisfied” with the outcomes.
38% of respondents who spent more than six months on a refurbishment or renovation project would be likely to do the same again.
63% of respondents who spent just one day on a refurbishment project said they would be happy to do so again.
Close to 40% of respondents complained they had spent more than they planned to on their most recent renovation project.
For homeowners who spent between one and three months on the project, this number rose to 48%.