Being close to family important to British homeowners

Posted: 03 Dec 2007 10:54:18 GMT

Homebuyers like to be close to their friends and family when they move.

Homebuyers like to be close to their friends and family when they move.

That is according to new research from Alliance & Leicester, which shows that 29 per cent of buyers consider this to be an important factor when deciding where to live.

When it comes to buyers who have children, this figure increases to 36 per cent.

"It's interesting to see that so many people are looking to buy their homes based on proximity to family," said director of mortgages at Alliance & Leicester Stephen Leonard.

"Although there are many factors to consider when moving home, such as easy access to transport, work and good schools, being close to family and friends is a key factor for many when looking to purchase a home for many buyers," he added.

According to the study, four per cent of those surveyed now own their childhood home, while six per cent dream of doing the same.

Homeowners will be paying close attention to the Bank of England on Thursday when the Monetary Policy Committee meets to announce its decision on the base rate of interest.

© Houseladder Ltd