Beyond location, location, location: priorities of new-home buyers (RR14)
This report, a collaboration between the NHBC Foundation and Savills explores what is important to recent purchasers of new-build homes. Based on feedback from over 5,400 survey respondents from across the UK it explores priorities in three density categories and for four different buyer categories (first-time buyers, upsizers, relocators and downsizers). The study included questions on features of the home, specific new-build considerations, parking and the importance they attached to nearby amenities. The research informs future marketing strategy by identifying a group of core buyer priorities and setting out specific priority profiles for the main buyer types. This work highlights an increasingly discriminating and complex market with a diversity of priorities among different buyer types.
Summary of content
Defines the survey scope and provides a profile of the 5,407 households that participated: shows distribution of home type and size, reasons for buying (whether first-time buyers, upsizers, relocators or downsizers – including age distribution). Also describes the three density categories (high-density urban, medium-density urban and suburban) that were used to segment the sample.
Includes analysis of findings from the survey questionnaire:
1. What features of new-build homes are most important to purchaser
2. Specific reasons for choosing a new-build home
3. Parking and car usage
4. Importance of local amenities
Differentiating the market
This section provides insights to inform future marketing strategies for new homes. It sets out graphically the core priorities of home buyers:
1. Minimum maintenance
2. Off-street parking
4. New home warranty
5. Size and design of living space
6. Quality of neighbourhood
7. Energy efficiency
It then establishes priority profiles for the four buyer types and presents specific observations from the density categories.
The report concludes with a short summing up section and includes selected further reading.