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New research out today reveals that although the estate agents’ traditional refrain of ‘location, location, location’ still matters to a degree, it is not the be all and end all that it used to be.
A new study by GoCompare Home Insurance has found that when it comes to choosing a new home homebuyers are increasingly looking for ‘connection, connection, connection’.
The survey found that the most desirable properties are located in good neighbourhoods, with low crime rates, near local shops and GP or dentist surgeries. But, the survey also found that potential home-hunters increasingly value superfast broadband, clear mobile phone signals, satellite TV and transport connections over pubs, schools and recreation facilities.
Rank
Most desirable home location/facilities
%
1
A good area or neighbourhood
66
2
An area with a low crime rate
59
3
Good proximity to local shops
51
4
Near a good GP or dentist surgery
44
5
A good, reliable broadband connection sufficiently strong to stream TV and films
43
6
Reliable and clear mobile phone signal
42
7
Superfast broadband
39
8
A land-line telephone
33
9
Bus, tram or underground stop nearby
31
10
Satellite TV
27
A quarter (26%) of potential home-hunters prioritised good access to recreation facilities or nature while 14% were concerned about being near a good pub and 14% near a good school.
Ben Wilson, from GoCompare Home Insurance, said: “Location will always be a key factor for homebuyers. After all, while you can improve a property – you can’t move it. But it is too simple these days to say that it is the only consideration. Homeowners also expect to be connected in a way that wasn’t envisaged even 10 years ago. They will want to know about the transport infrastructure and communications as much as the schools, shops and amenities.
The location of a property will also affect the amount you pay for home buildings and contents insurance. A property’s postcode has a big impact on how much it costs to insure because premiums are partly based on the likelihood of you having to make a claim. So, if you live in an area with a high rate of burglaries, then you’ll probably face higher premiums for your contents insurance. Likewise, if you live in an area considered to be at higher risk of flooding then the cost of your buildings insurance will reflect this.”
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