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New Homes and Buyer Migration

UK Residential Development – Spring 2020

Report

Autoren: Gaby Foord , Ed Hampson

Reihe: Savills Market in Minutes

Anbieter: Savills

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  • Erscheinungsdatum : 07.05.2020
  • Seiten : 2 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 565,74 kB
  • Sprache(n) : Englisch

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Inhalt

Buyers of new build homes are willing to move 56% further than those buying a second-hand property.

A large driver of this is the quality of new homes compared to their local market. Areas which have seen significant regeneration are able to attract new build buyers up to three and a half times further than second hand buyers.

But there is also a difference in the profile of the buyer. Older buyers are willing to move further, often as they begin to retire. And buyers on lower incomes are incentivised to move further by Help to Buy.

Understanding these migration patterns is key for marketing strategies, and will become particularly relevant if buyers' priorities begin to shift after lockdown.

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