May 27 2005
In a recent survey, undertaken by property portal www.new-homes.co.uk, 88% of respondents said that they were looking to buy a new home rather than a second hand one, proving that the new homes market continues to be extremely popular with buyers.
The main reasons that respondents gave for wanting to buy a new home were:
- 81% said that new homes were better quality and there were no wear and tear worries
- 68% said they felt new homes had better security and safety standards.
The most popular price sought was between £100k-£200k. These findings are good news for new homes developers. New homes are also more versatile than old, offering many other advantages. These include energy efficiency, where new homes are often four more times energy efficient than second hand homes, the breadth of choice of new homes ranging from loft style properties to family detached houses, a ten year warranty and the fact that you can start with a blank canvass.
These are all reasons to buy new.
Additional survey findings revealed that 64% of respondents did not think that Chancellor Gordon Brown had done enough for first time buyers in his recent budget by raising the stamp duty threshold to £120,000. In fact, 30% of the respondents said that they would be getting financial help from their family in order to be able to get a mortgage.
Mick Noble, Spokesman for new-homes.co.uk said “ New Homes developers are actively targeting first time buyers and there are many incentives available to help them to get on the property ladder. There are many reasons to buy a new home and for the first time buyer that doesn’t have much money to play around with, the advantage of buying a new home far outweighs a second hand one.”