Brits 'want to live close to work'

Posted: 01 Jul 2011 12:04:07 GMT

The main priority for homebuyers is closeness to work, it has been shown.

British homebuyers have cited close proximity to work as their main consideration when searching for a property.

According to new research carried out by Santander Mortgages, one-quarter of Brits - which equates to 12.6 million residents - looking to buy a new place would fork out an average £5,354 more in order to live near to the office.

Other popular choices among would-be buyers include additional space, with 29 per cent highlighting this is a priority, while decent public transport links was noted by 21 per cent of those questioned.

Phil Cliff, director of the organisation, said: "It's fascinating to see the value that prospective buyers attach to different property features, and how these evolve as people get older and family situations change."

The findings follow recent warnings from managing director of First Rung Now Helen Adams, who claimed first-time buyers may have to compromise on location if they are to get their foot on the housing ladder.
 

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