Homeowner Survey 2016: Results are in
August 26, 2016
This year’s Homeowner Survey 2016 report takes a closer look at how housing concerns have changed in recent years, particularly for those aspiring to buy a home. We also asked the public for their views on the new stamp duty surcharge on second homes, the quality of new build homes and how potential buyers assess quality. We also questioned why so many last time buyers are struggling to move. Here are some of the results…
Strong support for stamp duty surcharge
UK adults have voiced their support for the additional 3% stamp duty surcharge on second homes, with twice as many seen to support than oppose. Those policy is seen to support first-time buyers and homes for living in.
The surcharge has been met with loud opposition from landlord groups, however, who voice concerns that the surcharge could drive up rent as rental properties become scarce.
Since reform of the stamp duty system in 2014, concerns around stamp duty have fallen dramatically. In 2014, two-thirds of UK adults (64%) said stamp duty was a serious problem, compared to half of UK adults (52%) in 2016.
Increasing concern among first time buyers
Our Homeowner Survey 2016 revealed that more and more people are dreaming of becoming homeowners, with 73% of non-homeowners expressing the desire to buy, up from 65% four years ago. However, issues such as house prices, saving for a deposit and getting on the property ladder still top the nation’s list of housing concerns.
One of the most prominent rising concerns is that of availability and quality of housing, with 78% of aspiring homeowners voicing it as an issue up from 72% last year.
Lack of trust in new build homes
New build homes are less popular than older homes. Our survey reveals that more than twice as many people prefer an older home (49%) to a new build (19%).
When asking what the signs of a good quality new build home were, people said that size of rooms (74%), feeling of space on the development (65%), layout (62%) and level of finish (61%) were all important factors.
The main quality check buyers say they would undertake before buying a new build home is a snagging survey (58% would want a snagging survey).
Over a million last time buyers unable to move
One of the most shocking results from our Homeowner Survey 2016 was the fact that over 500,000 last time buyers are struggling to find suitable properties to move into. This in turn could be blocking up the housing market for other homebuyers.
According to the survey results, one in five homeowners aged 55 or over (19%) had considered moving in the past two years but have not done so. 23% of them say this is due to a lack of suitable housing.
Good build quality, spacious rooms and good parking facilities top the list of important amenities for last time buyers. When asked if they would consider new build homes as an option, older homeowners said that although they saw new builds has having low running costs, they are less likely to have spacious rooms, have a good amount of green space or provide the ability to live on one level.
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If you would like to download a copy of the report, please click here.
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