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'Experience valuable' in UK property market

16th November 2012 | back to article listings BACK    print this article PRINT

First-time buyers in the UK prioritise having a garden over being close to transport links or fashionable restaurants, according to a study conducted by Yorkshire Building Society.

More than 2,000 participants took part in the research, with 54% of potential first-time buyers and 51% of recent first-time buyers rating gardens as a key element of a new home.

The study, however, found that some features were more important before buying a house than they previously were once people settled in.

As many as 36% of prospective first-time buyers saw living near good public transport as key, compared with just over one in four who had recently bought their first home.

Only 9% of those who purchased a house in the last year said they would be happy to buy a smaller property in a more desirable area. That was in comparison with 23% of would-be first-time buyers.

Potential first-time buyers had no problem with the idea of working on a new home if required, with just 8% saying they would want a property to be low maintenance. That figure rose significantly, to 36%, among recent first-time buyers.

The research proved that experience is crucial when buying a home. Finding the right home in the UK property market can be tough, making it vitally important to take lots of advice on board.

Copyright Press Association 2012

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