Half of homebuyers barely know the area they move to
Nearly half of homebuyers move to neighbourhoods they barely know – So how do you find the right home if you aren’t familiar with the area?
New research from The Property DriveBuy reveals that nearly half of homebuyers are unfamiliar with their new neighbourhoods before moving in, with more than one in five admitting they visited the area fewer than three times before buying.
The Property DriveBuy surveyed over 1,000 recent UK homebuyers* and found that as many as one in five moved more than 50 miles from their original area of residence, whilst around one in 10 moved between 11 to 25 miles (12%) or between 26 to 50 miles (7%).
The most common reasons for moving such long distances include the search for better property types and sizes (37%), lifestyle preferences such as coastal or countryside living (24%), and the desire to be closer to family and friends (19%).
What stands out, however, is how little many buyers know about the areas they’re moving to.
Almost half (47%) of buyers say they weren’t familiar with the area that they moved to
What’s more, around one in five (19%) visited the area just once or twice before making an offer, with a similar number (22%) only visiting the area to view houses before making their move.
When it came to making a decision on where to purchase, the vast majority (58%) were influenced by property search platforms such as Rightmove, with a smaller proportion relying on word of mouth from family or friends (16%) and research into the lifestyle offering of these areas (13%).
Most tellingly, just 4% utilised the expertise of a local agent, highlighting the dominance that portal search platforms have when it comes to buyer behaviour when house hunting.
The positive news is that the gamble appears to pay off more often than not. 77% of buyers report being happier since relocating to their new area. This does, however, leave almost a quarter (23%) who might take more care over their search next time around.
Steve Foreman, Founder and CEO of The Property DriveBuy, commented:
“Relocating more than 50 miles away without really knowing an area can seem crazy to some, but it’s the reality of today’s market, with many buyers forced to look further afield to find a home that suits their size, budget, or lifestyle needs.
The problem is that the restrictive search functions of traditional portals mean buyers often miss out on properties that would be perfect for them in areas they haven’t even thought to search. When you only visit a new neighbourhood once or twice before buying, it’s easy to overlook the right home altogether.
That’s why geo-location search is changing the way we search for a new home. By letting buyers discover properties listed for sale as they travel through different areas, it ensures they don’t miss opportunities that could be ideal. For home movers, this means less time wasted, more options uncovered, and a greater chance of finding not just the right house, but the right place to call home.”
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