First-time buyers 'keen on community'

17-Mar-2008

Some 54 per cent of first-time buyers would be willing to spend more on a property in an area with a strong sense of community, according to new research.

Yorkshire Bank's quarterly Housebuyers Survey revealed that around 74 per cent of housebuyers view the presence of a neighbourhood watch scheme as positive and reassuring when considering a mortgage.

Homeowners still value their privacy, however, with just 18 per cent saying that they would like to get to know their neighbours better.

Commenting on the findings, Gary Lumby, Yorkshire Bank's head of retail, said: "Having a sense of community is still a very important factor in the buying process and there is a genuine desire for neighborhood watch programmes and community groups."

He added that earlier research by his organisation had indicated that people want "the best of both worlds", balancing privacy in their homes with a sense of community spirit.

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