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What Turns Buyers Away From New Build Homes?

Although nine out of ten new build home buyers would purchase a new build again, a New Homes Survey by the HBF reveals that bad press and general misconceptions continue to tarnish the sector. Survey results suggest that the primary concern is build quality.

According to a recent survey by specialist insurer BLP Insurance, nearly one-quarter of people view low quality to be a big disadvantage of buying a new build over an older property. Those residing in the north of England, which accounted for 29% of survey respondents, were more apt to regard low construction quality as a major disadvantage compared to those in London and the Southeast (21%).

Other perceived disadvantages of new builds that respondents identified included:

  • Lack of character (26%)
  • Room sizes (24%)
  • Sale price (21%)

Respondents in the 16-24 age group expressed concerns about cost (32%) when purchasing a new build home while those over the age of 55% viewed lack of character (30%) as the principal disadvantage of buying a new build. They were less likely to regard cost as an important factor (18%).

The BLP Insurance survey also indicated that 29% of residents did not see any special advantage in buying a new build home. Those in the over-55 age group were particularly sceptical about the benefits. (41%)

BLP Insurance CEO Kim Vernau said that subpar build quality was a growing cause for concern in the British housing market. As developers struggle to deliver enough new homes to meet the high levels of demand, quality and practical design were being compromised.

As homebuyers become more conscious of the problems caused by the poor build quality, everyone involved in the construction of new homes will have to take a position of greater responsibility and dedication to ensuring ongoing quality in the build process. Otherwise, the number of new build home buyers cannot grow.

Source: CRL