House-buyers in London are less concerned about the running costs of their new purchase than buyers anywhere else in the country, according to initial results from our survey.
Just 36% of buyers in London rate ongoing costs, such as energy bills, as ‘very important’ when they are choosing a new home compared with 51% of buyers across the nation as a whole.
Buyers in the East Midlands are the most concerned about future running costs with 57% rating them as ‘very important’ while they are house-hunting.
These are among the interim results from our ongoing survey into the views of house-buyers. We are continuing to offer prizes of up to £1,000 to anyone doing the online questionnaire here (http://tiny.cc/mortgage-survey). It takes less than ten minutes to complete.
Mike Holland of OlsenMetrix Marketing, which is managing the study on our behalf, said: “House buyers in London are far more concerned with the initial purchase price of their new home than they are with the running costs. The results do not mean that Londoners are indifferent to energy bills but these perhaps pale into insignificance when compared with mortgage repayments associated with London house prices.
“Elsewhere in the country – such as the East Midlands – energy costs are not greatly different to those in London, but house prices are lower. The bills associated with running a house are a larger proportion of total expenditure and therefore get more attention.”
The full results of the survey are expected to be published in September when more data has been obtained.
Joanne Atkin, editor of What Mortgage, said: “Our survey is continuing and we remain very keen to hear from anyone currently searching for a new house or who has purchased a new house in the past twelve months.
“Everyone who takes part goes into a draw to win £500 and if you agree to take part in a follow-up telephone survey you could win an additional £500.
“Whether your search and purchase involved a brand-new home or an established property, your views will help to shape the way that the house-building industry meet the needs of home buyers in the future.”
