Much of the Government’s housing policy may be based around new-builds such as through Help to Buy, but buyers are unenthused by these sorts of properties, a poll suggests.
Research among 2,000 adults by bridging lender MFS found that 81% of adults are not thrilled about the prospect of living in a new-build, while 23% would only consider them for buy-to-let investments.
Asked why they were against new-builds, 60% felt they were poorly built and 41% said they lacked character.
The research also found that 79% of respondents feel the current Government should do more to encourage the refurbishment of older properties as a greater priority to boost the nation’s housing supply
Paresh Raja, chief executive of MFS, said: “Despite the distinct need for a greater national supply of housing, the public appetite is evidently stronger for refurbished traditional properties over new-builds.
“However, the UK’s current housing strategy is heavily predicated on new-builds, much to the frustration of buyers across the market. Clearly more needs to be done to support aspiring property buyers by doing more to encourage the refurbishment projects that are essential to satisfy widespread demand.”