Location remains key driver of value in UK housing market

Location remains the key driver of value in the UK residential market, according to Savills UK Housing Market Survey. The quality of the neighbourhood in which a property is located was considered the most important factor by over 80% of the survey, more than any other single attribute.

The survey which draws upon the opinions of nearly 500 households across the UK, also placed good schools and the safety of the local environment, both attributes which are related to a property’s location, within the top five most important factors.

Other attributes within the top five included a property’s external appearance and the costs of maintenance.

Lucian Cook, Director Savills Research comments, “The findings present a clear challenge to policy makers, planners and house builders to deliver developments which provide a sustainable living environment. This is particularly significant because the survey respondents showed a strong preference for away from town and city centre locations, where development is increasingly being concentrated.

The survey also revealed that more people considered the size and layout of rooms as more important than the number of rooms or indeed the overall size of the property.