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Increased interest in new-build homes

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Increased interest in new-build homes

Interest in new-build homes has rocketed since lockdown was lifted, according to a new survey by the Home Builders Federation (HBF).

After spending months in their existing homes, more householders are apparently now re-evaluating their circumstances and considering a move.

While some are considering adding extensions or converting or remodelling parts of their existing homes, others are increasingly seeing newly built properties as potential future options.

According to the research, some 55 per cent of those polled stated they now value their home space more than ever and two in every five suggested they would now prioritise space for a home office if they were searching for a new home.

One in five said they now wanted to change the style of their existing home, while one in six stated that being in lockdown had sparked an interest in updating their home.

As a result of this newfound desire for change, housebuilders across the country are reporting surges in enquiries about new homes.

Indeed, recent figures from Zoopla show buyer demand for new-build homes surged 66 per cent in the six weeks following the property market reopening.

Stewart Baseley, executive chairman at the HBF says: “Lockdown has been an extremely testing time, during which people have spent much more time than usual in their homes.

“This has led to a re-evaluation in how people see their homes and what they want from them.

“As a result, high quality, environmentally friendly new build homes specifically designed for modern living are increasingly in demand.”

Alex Rose, director of new homes at Zoopla adds: “Buyer expectations have shifted since the coronavirus lockdown.

“Home offices have spiked in popularity as more people plan to work from home more frequently, while gardens and proximity to outdoor space have also become a prerequisite for many buyers.

“First-time buyers are also driving demand, with many keen to make the most of Help to Buy, as loan-to-value mortgage products are harder to access.”