New research from Market Financial Solutions (MFS) reveals a shift in homebuyer priorities post-pandemic, with a growing emphasis on transport links and less focus on property size.
A survey of 412 UK adults who have recently purchased or are in the process of buying a home shows how preferences have evolved since the COVID era.
Broadband tops the list, while gardens lose ground
The most important factor for 82% of homebuyers in 2024 is broadband and mobile connectivity, overtaking the previous frontrunner, garden and outdoor space (76%). This marks a shift in priorities as the ‘race for space’ mentality of the pandemic wanes, and convenience takes precedence.
The rise of transport links and fall of extensions
Transport links have seen the most significant rise in importance, moving from 14th place in 2021 to 6th in 2024. This reflects changing work patterns, with fewer people working fully remotely and more buyers seeking well-connected homes for easier commutes.
Conversely, the potential for extensions and conversions has dropped six places to 14th, while square footage, once a top priority, has fallen from second to seventh. Homebuyers are now focusing on practicality and connectivity over expansion and large living spaces.
Evolving priorities
Paresh Raja, CEO of MFS, commented: “The pandemic caused radical changes in homebuyers’ priorities, but it’s interesting to see some trends reversing as we return to pre-COVID preferences. The increased importance of transport links shows that as remote work decreases, buyers are placing more value on convenience and access to urban areas. Meanwhile, the diminished focus on property size and extensions highlights the end of the ‘race for space’ that defined the pandemic-era housing market.”
Top 5 factors homebuyers consider most important:
Broadband and mobile connectivity – 82% (up from 3rd in 2021)
Garden and outdoor space – 76% (down from 1st in 2021)
Proximity to public spaces and parks – 74% (up from 4th in 2021)
Quality and finish of the property – 74% (no change from 2021)
Garage or off-street parking – 74% (up from 7th in 2021)
the future of homebuying
As the government ramps up plans to build new homes and towns, it will be important to monitor how these trends evolve. Raja added: “Lenders and brokers must adapt their offerings to match the shifting demands of today’s homebuyers, ensuring the specialist lending sector stays relevant.”
Other factors ranked by homebuyers:
Transport links – 74% (up from 14th in 2021)
Square footage of the property – 72% (down from 2nd in 2021)
Potential for extensions and conversions – 62% (down from 8th in 2021)
