Posted by Aston Avery

High bills and looming recession to fundamentally change UK property market

More than two thirds (68%) of us would expect to spend at least £10,000 on a property to bring it up to standard after buying.

As a recession looms and the cost-of-living crisis goes on this renders property unaffordable to many, leaving a third (32%) of the opinion that this is a bad time to buy.

When looking for a new home nearly two thirds of us (63%) are looking for an efficient heating system due to the rising cost of energy bills.

Research commissioned by the Home Builders Federation suggests a shift in the mindset of the public as more than half (53%) would now consider a new build if it meant they could lower utility bills.

Aston spoke to Neil Jefferson, managing director at Home Builders Federation.

Photo by Ethan Kent on Unsplash

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