More than half (51 per cent) of first-time buyers (FTBs) are ready to give up natural light in the place they are living in just to be able to land an affordable purchase, according to the latest First Time Buyer Opinion Barometer from Your Move and Reeds Rains.
The research revealed alarming results with 63 per cent of FTBs saying they are willing to live without a bath and 93 per cent of them stating they would be happy without an ensuite bathroom in a new house they were buying.
FTBs were asked what they considered “vital” for a first home and astonishing 11 per cent said a kitchen was not.
Just a third (30 per cent) consider having a dining room as essential and only 14 per cent say a garage was mandatory.
A little over the half (54 per cent) of survey respondents said a garden was mandatory, and 55 per cent named a car parking space as vital.
With the average price of a first-time buyer home now £143,767 as of February, first-timers are more willing to sacrifice spaces including garages, dining rooms and utility rooms in order to save on costs.
In their bi-monthly survey, Your Move and Reeds Rains asked FTBs what policies they would accept to encourage more housebuilding to which 41 per cent answered they would accept legislation to prevent land banking – when developers buy a plot of land for development but don’t build on it straight away.
Over a third (37 per cent) think it should be easier to convert existing buildings to residential use.
One in seven, or 14 per cent, believe more pre-fabricated ‘kit’ houses should be used to build new houses rapidly, while 11 per cent would accept converting high streets to residential property, and a tenth would happily build over golf courses. A twelfth (8 per cent) of FTBs say that the greenbelt boundaries should be adjusted, 8 per cent believe building height restrictions in city centres should be removed, and another 8 per cent think the size of new builds should be limited, in order to build more smaller homes on the same available plots.
Adrian Gill, director of estate agents Your Move and Reeds Rains, explains: “The housing crisis cannot be conquered by timid tweaking of the system – radical action is required.
“Recalibrating the way we use land will form firm foundations for more affordable housing. Potential policy changes could include legislation against land banking and in doing so making it easier for landowners to build on their land banks by easing planning restrictions. Building on green spaces in urban centres is another option, and – at the more controversial end of the spectrum – adapting the green belt boundaries. Supporting smaller builders will also play a part, to encourage more quality first-timer homes, in the locations that we need them.”
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