UK homebuyers are placing greater emphasis on transport links while the importance of a property’s square footage has declined, according to recent research by Market Financial Solutions (MFS).
The study, which surveyed 412 UK adults who have recently bought or are in the process of buying a property, reveals a significant shift in priorities compared to 2021.
The survey found that 82% of respondents now consider broadband and mobile connectivity as a critical factor when choosing a home, making it the top priority.
This marks a shift from the previous focus on gardens and outdoor space, which 76% of homebuyers still consider important but now ranks second.
Transport links have seen the most significant rise in importance, moving from 14th place in 2021 to 6th in 2024.
In contrast, the square footage of a property has dropped from second to seventh place, indicating a shift away from the “race for space” mindset driven by the Covid-19 pandemic.
Paresh Raja, CEO of MFS, commented: “Homebuyers’ priorities changed radically during the pandemic. But the speculation was whether those changes were temporary or permanent – and our research shows there have indeed been some interesting shifts back to pre-Covid times.
“The increased importance of transport links clearly indicates changing work patterns, with more people needing properties in well-connected areas as fully remote work becomes less common. Meanwhile, the fact people are placing less emphasis on square footage and the potential for extensions suggests a shift towards convenience and connectivity over expansion, marking the end of the Covid-inspired ‘race for space’.
“It will be intriguing to see how these trends play out in the years ahead, particularly as the new government accelerates its plans for building new homes and towns. For lenders and brokers, our findings show that the specialist lending sector must continue to tailor its products and services to meet the ever-evolving needs of homebuyers.”
