Essential reading for retailers and suppliers in the home improvement market

Revealed: Brits looking to spend £324,701 on a post-lockdown home in the next year

Published: 19 August 2020

Want to add value to your buy-to-let home for the post-lockdown boom? According to a new survey by CIA Landlord of 1,000 Brits looking to buy or rent in the next year, these are the most important home features to highlight.

 

With Brits across the country continuing to work from home during the coronavirus pandemic, spending all that time indoors has encouraged millions to take up DIY projects in a bid to improve the overall surroundings of their new offices.

In order to uncover shifts in the UK’s most valuable and desired home features, CIA Landlord asked 1,000 Brits what they’re looking for in their next home post-lockdown. According to the findings, the average sought after home price for the UK post-lockdown will be £324,701 in the next year.

Millennials and Gen Z's who are looking to purchase have a price range between £232k and £348k vs. boomers at over £315,146. The highest paying age bracket will be 45 to 54 year olds looking to spend an average of £340,278!

The findings also reveal the gap between the average home price budget for genders with women looking to spend £284,025 versus men at £362,404.

Over the next year, the housing market will notice an increase in areas that are away from the hustle and bustle of highly populated areas. There will be a shift in those living from the suburbs to further in the countryside with commuter towns noticing a further decrease as well.

Gardens have been revealed as the most popular feature Brits are looking for in their next home, followed by lots of natural light and large bedrooms. The importance of having an outdoor space to enjoy during lockdown has made its mark with over 44% of Brits wanting their own piece of nature in their next home. 

Fast internet makes the top five features as thousands of Brits are spending lots of time at home for work making internet speed a very important factor. Of the most popular features, a third of Brits also selected cleanliness as an important feature that will attract buyers.

More than a quarter of Brits say new carpets, lights and home offices will add the most value to homes this year! New carpets, lights and a home office adds the most value to a home according to Brits who ranked popular DIY projects that have taken up during lockdown.

When asked what DIY improvements or amenities would add value to a home, newly painted ceilings and front doors and even plants made the top 10 most valuable to implement on a budget too.

When it comes to what type of neighbourhood Brits are looking to move to, the most important features go hand in hand with the type of areas Brits are looking for. A large percentage of brits want to move to areas that are quiet with almost a quarter wanting to be close to a hospital as well.

For more information see the full study here: https://www.cia-landlords.co.uk/landlord-news-advice/post-lockdown-buyer-and-renter-requirements/

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