Buyers 'prefer older property'

Posted: 31 May 2007 11:03:11 GMT


            Property News - Buyers 'prefer older property'

Older homes are being favoured over new-builds by many buyers because of simple factors such as location and storage space rather than for period features, the British Property Federation (BPF) has said.

Older homes are being favoured over new-builds by many buyers because of simple factors such as location and storage space rather than for period features, the British Property Federation (BPF) has said.

According to BPF director Ian Fletcher, older homes typically have better locations near the centres of towns and villages, as well as larger gardens and more room for storage.

This is what attracts buyers and raises prices, he argued, rather than period features - something often regarded as an important selling point.

"There's the advantage of location," Mr Fletcher said, commenting on the popularity of period property.

"Older property often has some of the best slots in towns or villages or wherever it is - the area is established and has local communities to go with that."

He added that parking space and a large garden were also regarded as important attributes for many prospective homeowners - an area that older properties were again stronger on.

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