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Zoopla reveals how property size impacts buyer demand for new homes

23rd July 2021

  • Larger homes with 4+ bedrooms spur a 20% increase in the distance buyers are willing to move

  • Buyers interested in larger homes are willing to compromise and move from locations where a similarly sized property would typically be out of their price range

  • In London, buyers operate out of a catchment of just under three miles across all property sizes, increasing to just under five miles for new homes


Zoopla, the flexible, customer acquisition platform for housebuilders has revealed the importance of property size on the demand profile for new homes, with larger homes (4+ bedrooms) leading to a 20% increase in the distance buyers are willing to move to their next home. 


Location is also key


Location also plays a vital role, with buyers in coastal and rural areas willing to move further for a larger home. In the South West, for example, buyer interest for 4+ bed homes comes from a radius that is five times that of interest for 1-3 bed homes. 


Affordability matters


For buyers searching for a larger home, affordability plays a major part when it comes to decision making. Nationally, buyers are looking at new homes further afield that are priced 18% or £73,000 cheaper than similar properties in their current location.


This figure is even higher in the South at 21%, with buyers searching to move to a home that is £100,000 cheaper than a similar property in their locality. In Scotland, the figure stands at 20%, which equates to £51,000. 


Less movement in London


Demand in London is more concentrated, with the average buyer searching for property within a three mile radius across all property sizes for resale and just under five miles for new homes. This compares to an average radius of five miles and eight miles for resale and   new homes respectively across the rest of Britain. 


For new homes, the Help to Buy equity loan scheme has played a major part in enabling buyers who would have been priced out of buying a home in London to keep their home search more ‘local’. 


Alex Rose, Director of New Homes at Zoopla comments: “The pandemic has seen a once-in-a-generation reassessment from buyers in what they want in a home, with additional living space becoming a key priority for many. Our research reinforces this, with many buyers willing to move a further distance for a larger new build home than they would for a 1-3 bed home. The report, which can be downloaded for free here, also considers the effects of changing buyer behaviour, including the ‘search for space’ and how the recent changes to Help-to-Buy and regional price caps will impact the appeal of larger homes.”


- Ends -

For further information, please contact PR Team on [email protected] or +44 (0)20 3873 8770.

About Zoopla

Hello. We're Zoopla. A property website and app.

We know you're not just looking for a place to live. You're looking for a home.

Yeah, we've got over a million properties for you to browse.

Tools that let you filter them in all kinds of clever ways.

And reliable house price estimates, so you can be sure you aren't paying over the odds.

But we know you're looking for more than that.

Because that first flat won't just be a 'great investment opportunity'.

It'll be the feeling of starting out on your own.

That extra bedroom won't just mean another £20K on the re-sale price, it'll mean having your sister over to stay.

And that bungalow won't just be a way to release some equity, it will be a chance to spend more time with the grandkids.

We know that searching for a home is about more than just checking its price, location and features (important as all those things are).

What really matters is how it makes you feel.

We know what a home is really worth.

So let us help you find yours.

Zoopla is part of Zoopla Limited which was founded in 2007.

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