Study reveals the profile of British buyers in 2015

 
Study reveals the profile of British buyers in 2015

The profile of the average British home buyer has changed in recent years, as living conditions and an increase in career-minded young people has meant that the traditional young married couple no longer makes up the vast majority of new buyers. 

Tepilo has undertaken the task of profiling what the new age of British buyer looks like, and it found that the typical buyer is someone who has an average of £205,000 to spend and has owned two properties in the past.

Results also showed that suburban commuter zones are the most popular places for people to buy, with the average British buyer most likely to invest in a three-bedroom semi-detached property in such an area. 

As well as profiling buyers, however, the study also looked at how we act when buying property, and what the most important factors are when we are investing. 

According to the survey results, the most important factor for anyone buying a home in the UK is the location, which 65 per cent of people said was important to them. Next on the list was the number of bedrooms a property has, which was vital for 56 per cent, followed by size of the garden (41 per cent), property layout (34 per cent) and the convenience of a second bathroom (19 per cent). 

Other important factors included the proximity to local transport links - especially vital in commuter heavy regions of the nation - crime levels and how close people can be to their family. 

Perhaps one of the most surprising findings of the study, however, was related to who people buy with. While in the past most people would have bought as part of a couple, this is a trend that is diminishing.

Tepilo said that as many as 18 per cent of young people nationwide are now buying on their own, while almost a fifth (17 per cent) would opt to even buy with a friend rather than a partner. 

It was also discovered that an increasing number of young people are now buying property because it represents a chance to invest for the future. Some 32 per cent said this is the case for their purchase. 

Sarah Beeny, owner of Tepilo, said: “We're a nation that's obsessed with property ownership, so it's interesting to see how buyers are behaving and to discover the differences across the UK and amongst different age groups. It's also interesting to see that Brits' love of investing in property is still going strong, a trend I expect will continue as people increasingly look for alternatives to traditional pensions.”