April 13, 2023
If you are thinking of selling your home in the near future, it is good to understand what buyers are currently looking for. We reviewed the early reports from reputable online sources to collate information on what buyers are looking for in 2023 and here is what we found out:
What is happening to the property market so far in 2023?
According to Zoopla’s review of the early part of the year, there has been a surge in apartment interest. Which given the cost of living crisis and ever increasing energy costs, it makes sense that interest in smaller properties has subsequently increased. During January 27% of new buyers ( a 5% increase) were looking for 1 and 2 bedroom apartments, enquiries for 3 bedroom properties fell by 5% to 39%, however, 3 beds properties are still the most sought after family sized home. Zoopla also reported that towns near big cities are the current market hotspots.
Most Desirable Property Features for 2023
We have glimpsed a shift in interest in the property sizes and locations, but what about features? What features are home buyers looking for in a new home. Here are some of the trends we have seen so far this year:
Outside Space
A leftover requirement from the pandemic, outside space is still an important consideration for potential buyers, some of the desirable outside features listed have been: large garden, space to entertain, a garden office or room for one, a garage, room to expand and off road parking. It is clear then that being outdoors is still very much a priority.
Energy Efficiency and Cost Saving Features
Unsurprisingly, featuring high on the priority list for home buyers in 2023 is energy efficiency and cost saving features. Buyers are particularly looking for economical heating systems, good insulation and electric car chargers.
Property Layout
The preference this year for home layouts seem to be leaning towards open plan living, bedrooms of equal size, ensuite bathrooms and space for a home office. In addition, there has been an increase in interest in property condition with preference leaning towards properties that require very little work.
Amenities
Topping the amenities list is still good schools and whilst transport links are still mentioned, beating them in the popularity polls is a pub within walking distance.
In summary then it seems that the pandemic has created a lasting desire for plenty of outdoor space and home working areas. The cost-of-living crisis is creating demand for energy efficiency measures and it is clear that good schools is still vitally important but social considerations are more of a priority than transport links.
Buying or selling your home with Lovelle
We recognise that everyone’s needs are different, no more so than when it comes time to buy or sell a home. When you choose Lovelle we’ll look at your needs on an individual basis and tailor our service to suit to make sure we’re providing what you need. So if you are thinking of selling why not check out our free market appraisal we can visit you in your home or you can get an indictive value with our online tool. If you are searching for your next home then why not browse through the homes we have for sale or talk to us about our buying agent services.