Location still key factor when choosing a real estate

Good old British cliche – “location, location, location” – meaning that the main object of property “location” is still relevant.

The study, conducted by the Agency My Home Move has shown that location is the main deciding factor when buying property in the UK. More than 56% of the people make an offer to purchase only because they liked the location, price and available land. The most unimportant factor was the proximity of friends. If you take all of these causes separately, then for location was 58%, the price is the deciding factor for 37% and the garden – for 29%. Among other important parameters – 40% were in favour of a transport interchange close to, 35% want to live near green parks and gardens and 32% important shops, cafes and restaurants.

For buyers 20s, of course, important to have good schools nearby. For 34% of the respondents this factor was most important in choosing housing.

When making purchasing decisions, many consumers hide the reason for his decision and love to haggle. Therefore, probably, people do not consider the price the main reason for the decision.

To the extent that, as prices rise on housing, people all more thoroughly interested in the details of the potential object of purchase, exploring the area around and other advantages.

Unfortunately, because of the imbalance of supply and demand and a gradual increase in prices, many people are increasingly less likely to choose accommodation suitable for their location. It seems that the main word in the real estate market in the UK will be the word “compromise”, competition among buyers will increase, since there is very little indication that the situation with the supply of homes on the market improves.

® Helen Entree.22.01.2016

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