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 No-go equals no-buy or rent

 

Tuesday, May 31, 2005


Groups of hooded teenagers hanging around streets are the nightmare scenario for home buyers and renters alike, according to a new survey.

The survey was conducted jointly by propertyfinder.com and upmystreet.com. to discover the characteristics of Britain’s ideal street and the nightmare no-go, no-buy area.

94% of home hunters would be put off buying or renting a home in a street where teenagers congregate. 51% would not even consider such a street. And even if the kids were not there on the day of a viewing, the hoodies’ calling card, graffiti, would put off 97% of prospective purchasers. 93% feel the same way about litter.

Landlords need to pay just as much attention as homeowners to the problem, as it can affect rental demand for their property. What’s more, tenants can move house more cheaply and easily than homeowners, leaving landlords with the expense of an empty property.

The too-local local

Finding a pub in the street lessens its appeal further. 51% of buyers would be put off if the local was a bit too local, while only 13% would be attracted by the prospect.

Jim Buckle, managing director of propertyfinder.com said: "We should be careful not to demonise all youngsters."

"It is particularly where visible signs of anti-social behaviour exist such as graffiti and litter that groups of teenagers raise anxiety levels and put off potential newcomers."

"And it can have a real effect on house prices or rental demand. If the 'street appeal' is not there, even if they have found the ideal home, buyers will demand a discount as high as 30% compared to a similar home just a few hundred metres away in a different street!"

Top factors deterring home hunters from a street:

  • Graffiti & vandalism
  • Hoodies hanging around
  • Litter & dirt
  • Street contains houses in poor state of repair
  • Street is main road
  • Gloomy street by day
  • Street contains a pub

Victorian ideal fits the British dream

By contrast, a well-lit, tree-lined Victorian cul de sac, boasting attractive gardens is Britain’s ideal street, according to the survey.

Period architecture was popular in all regions and across all income groups, although richer households tended to be fussier. Londoners are the most likely to seek out Victorian and Georgian streets, while Scots are the least interested in older styles, possibly due to the prevalence in Scottish cities of austere period tenement blocks.

Canny homebuyers looked for signs of gentrification too, prepared to compromise for the advantages of getting in early on an up and coming area.

Top factors attracting home hunters to a street:

  • Well tended front gardens
  • Good street lighting
  • Tree lined
  • Cul de sac
  • Nice cars
  • Signs of gentrification/regeneration
  • Traffic calming measures

New-build streets were the most popular among lower income households and in the East Midlands, and least popular among Londoners. Architecture of the 1960s and 1970s was least popular overall.

Julia Grinham, commercial director at Upmystreet.com said, "Period architecture is a perennial British favourite and our love affair with Victoriana is still alive and well a century on. Of course, the Victorians rarely built cul de sacs, but modern traffic management schemes have created some."

Jim Buckle of propertyfinder.com said, "The overall look and feel of a street is just as important as the individual property and home hunters are simply far less interested in streets containing poorly designed 60s and 70s homes as they spoil the overall feel of the neighbourhood. However, people are prepared to overlook a few flaws if they can see signs of gentrification in the area which will suggest that house prices are on the way up."

 
 
     
     
 

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