Zoopla’s Consumer Insights Survey reveals what buyers want from housebuilders and agents in 2022
16th June 2022
Consumer Insights Survey reveals a consensus across buyer groups on the size of the properties they bought or intend to buy. Semi-detached and detached houses were the most sought-after homes among buyers, with over half of new build and resale respondents saying they had moved or would move to this type of property.
There’s a clear correlation between buyers' overall satisfaction with the purchase process and the speed of the transaction once an offer has been accepted. The purchase process also varies by buyer group, with older households taking 240 days from initial search to exchange and families taking just 160 days in comparison
Energy efficiency is also a key consideration for both new homes and resale buyers
Gardens and garages remain a key requirement for today’s buyers - with 94% of all respondents saying they want a form of parking in their new home
Zoopla, the UK’s most comprehensive property destination, has released its Consumer Insights Survey, which highlights what buyers want from housebuilders and estate agents in 2022.
The survey of over 2,600 respondents captured the views of those who have either bought a home in the last 18 months or intend to buy one over the next 18 months.
The importance of consumer satisfaction
There’s also a clear correlation between buyers' overall satisfaction with the purchase process and the speed of the transaction once an offer has been accepted. Buyers who had a 'very good' or 'good' experience typically saw the process between offer accepted and exchange take less than half the time compared to those who had a ‘poor’ experience (65 versus 138 days).
Interestingly, the purchase process also varies by buyer group, with older households – who are perhaps more selective with their requirements – taking some 240 days from initial search to exchange and families taking just 160 days on average. For the pre-family audience, where affordability is a more significant concern, buyers typically take 203 days from search to exchange.
Energy efficiency growing in importance
Nearly 70% of new-build respondents said energy efficiency was an ‘extremely’ or ‘very’ important factor in their decision to buy a new home. That compares to 41% of resale respondents.
However, the majority of respondents underestimate the cost savings of moving to a highly-rated EPC home. A third of respondents estimated a new home offered annual savings of 20% or less compared to an average resale house. And, one in ten respondents simply ‘didn’t know’ what the savings might be. The correct figure is 52%, highlighting the knowledge gap around the potential cost savings of living in an EPC rated ‘A’ or ‘B’ property.
Parking and gardens remain a key preference
94% of all respondents want some form of parking at their new home, with off-road parking – either a garage or a driveway a preference for the majority. Outdoor space is also a key consideration for buyers with 84% of respondents saying they wanted a garden - and 45% of this group saying they would like a large garden.
This has been a long-term requirement for buyers since before the pandemic – with ‘gardens’ and ‘garages’ remaining the top 2 keyword searches on Zoopla among new home and resale buyers over the last 3 years.
To download the full report and gain even more consumer insights, visit Zoopla’s Housebuilder Hub.
Commenting on the launch of the survey, Alex Rose, Director of New Homes at Zoopla said:
“Our Consumer Insights survey provides agents and builders with a range of actionable insights to inform new homes strategies and the marketing of new homes. One key take-away is the importance of energy rating to new home buyers at a time when energy bills are rising. We see a real opportunity for builders to push the green credentials of homes compared to the wider resale market which is one of the key benefits of buying a new home.”
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