+ +
You are here: Home - First Time Buyers - News -

First-time buyers rethinking where they want to live

Written by:
Many people want to move to be closer to their families after the restrictions of the last year
First-time buyers rethinking where they want to live

Lockdown has made 80% of first-time buyers rethink where they live, according to Douglas and Gordon.

The estate agents found that, since the pandemic, 80% of under-40s are unhappy about they live due to them being far away from loved ones.

Whether for work, independence, or avoiding unannounced visits, living close to family has not always been the top priority for first-time buyers, who often pick different areas to their parents when deciding where to buy.

Due to the pandemic, over half of Brits (60%) admit they have not seen their families in six months or longer due to lockdown. Significantly, the majority say they would be willing to move to a new home right now if it meant living closer to loved ones.

In a recent UK mental health survey, a quarter of the population (25%) said they felt lonely during lockdown, and that seeing family freely could help.

Lockdown has already increased property searches as more people search for home office space or bigger gardens. Now we know more people are also considering a move to be closer to the people they love.

Brian Smith, chief operating officer at Douglas & Gordon said: “The last year had a huge impact on how we think about our homes and factors like space, gardens and outdoor access. Our latest survey also shows how important proximity to loved ones has become. Having passed one year of COVID-19 restrictions, we’re all counting down the days to be reunited with family and friends. This time apart could see new trends emerge around how people prioritise property location in the future.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Sorry. No data so far.

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...

Mortgage market biased against homeowners

Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...

Should buy-to-let investors ‘go Dutch’?

The Netherlands is revealed as Europe’s top buy-to-let property hotspot

Private sector tenants in poverty double in decade

The number of private rented sector tenants in poverty has doubled in the last decade from...

Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service

Second steppers targeting detached properties

Those living in their first home are increasingly looking to reduce the steps to their lon...

Mortgage Calculators

Read previous post:
UK house prices hit record high level

Property prices rose by 6.5 per cent in the last year, taking the average house price to £254,606

+ +