Location is everything when buying a new house and recent research conducted by Clydesdale and Yorkshire Banks reaffirm the famous phrase: ‘location, location, location’.
The housing market has been an up and down rollercoaster for the past few years and hit by an economic downturn, buyers are still considering location over affordability when it comes to packing up and moving elsewhere.
According to the annual Homebuyers Research, the importance of living in the right area stands true with 59% of homeowners in the UK. At 64%, Scots seem to consider location as one of the most important factors for buying a home.
The table below breaks down the regional % when considering location as a key influence when buying a house:
|Region||% for whom location is a key factor|
On the other hand, Wales sits at 50% when choosing location as a house buying factor. 24% claim that affordability was far more important than the location of a future house. For those surveyed in Wales, 33% agreed with affordability as a key choice when buying a house. This stood in stark contrast to 17% of Scots, 16% of Londoners and 15% in South West.
Ben from Sell House Fast says "We buy any house – wherever the area, whatever the condition – however evidently for most buyers location can make or break their decision to make an offer on a property".
Location is everything when buying! If you are currently looking into buying a new property, consider what is most important to you – location or affordability?
Feature image credit: karen roach/Shutterstock