Factors That Affect The Demand For A Real Estate Property

Estimated read time 3 min read

Recently, the real estate scene here in the UK has been favourable for both new home buyers as well as real estate investors. The weakened pound, the amazingly low interest rates are some of the driving forces that are compelling people to invest in the real estate sector.

This post will not delve into those matters.

Instead, the sections below will try to focus on the factors that make a home or a residential complex all the more appealing to the masses.

So, without further ado, let’s get on with it, shall we!?

The location of the property

More than eighty percent of buyers prefer homes or residential complexes that are located near essential services such as a hospital, convenience stores, shopping malls or educational institutions.

The reason is simple – according to a revered real estate agent associated with https://wirral.co.uk although it is peaceful to live or own a property that is located in a serene location when it comes to creature comforts and convenience factor, people seldom make compromises.

Hence, if you witness that a property is getting a lot of traction on a listing website then the location of the same could be the driving force.

The location of the property

A property with a garden or outdoor space attracts more buyers

Properties that come with a backyard or a garden are sure to remain on a property listing website momentarily before someone steps in and buys it out.

As per the opinion of a revered real estate agent specialising in real estate transactions for Wirral homes, more than twenty percent of the UK’s population who are interested in buying a home choose to prioritise the ones that come with an outdoor space.

Properties that have a dedicated outdoor space is truly a luxury here in the UK as unlike other nations, the UK doesn’t have that much open space left for leisure purposes.

A home with parking facility or a garage is more appealing

As mentioned earlier, the UK has a scarcity of open spaces hence it is natural for people to go for homes that come with a dedicated driveway, a garage or at least some space in the front of the property where one can park their car for free.

The proximity of the property to transport links

Two among six people interested in purchasing a home here in the UK prefer properties that are in proximity to major transport links such as highways or public transport systems such as the tube.

A property with a garden or outdoor space attracts more buyers

The reason is simple – although people here in the UK own some form of a private vehicle, they still prefer to take public transport since it saves time as one would not need to waste precious minutes looking for a place to park their vehicle or spend hours on a gridlock.

Hence, if you find a property that is in proximity to a road that is frequented by buses or to a tube station, you should buy it before someone else does!

Now that you know why that particular property in Wirral or that home in Birmingham is so popular that everyone wants to purchase it, you should also keep in mind that to steer clear from fierce buyers and steep asking prices, you would need to take assistance from a real estate agent who has been at it for several years. It is also the only way to make sure that the property you are buying is worth your time, money and efforts.

Sarah Cantley

Editorial Head at UK Blog for Business & Startup.

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