Brits unconvinced by new builds
The British public are unimpressed by new builds and would rather the government prioritise refurbishing existing stock, a poll from bridging lender MFS has found.
Four in five (81%) UK adults are unenthused by the prospect of living in a new build house, while three in five (60%) reckon there are too many poorly-built, unattractive new builds popping up across the country.
Most Brits (79%) think the Conservative government should focus on supporting the refurbishment of rundown properties to boost housing stock.
Paresh Raja, chief executive of MFS, said: “Today’s research sends a strong message to both those involved in property development and the government.
“Despite the distinct need for a greater national supply of housing, the public appetite is evidently stronger for refurbished traditional properties over new-builds.
“However, the UK’s current housing strategy is heavily predicated on new-builds, much to the frustration of buyers across the market.
“Clearly more needs to be done to support aspiring property buyers by doing more to encourage the refurbishment projects that are essential to satisfy widespread demand.”
For some a dislike of new builds appears to be about the ‘character’ of the home, as two in five (41%) think new builds act as eyesores within the area.
A quarter (23%) would only consider buying a new build as an investment property rather than living in it themselves.