Survey puts a value on good neighbours

| May 8, 2012 | 0 Comments
Survey puts a value on good neighbours

Almost half of those buying a home would be willing to fork out extra to guarantee they would have good neighbours.

A survey of 2,011 adults, carried out by findaproperty.com, suggests that house purchasers would pay around 7 per cent more, or £15,321 on an average home, for the peace of mind of having quiet neighbours they can trust.

One in five house-buyers would pay 20 per cent, or £44,000 more on an average priced property, to ensure they would be living next to a good neighbour.

It seems that the days when people chatted to their neighbours over the back garden fence and considered them as friends are long gone.

A quarter of respondents to findaproperty.com’s survey said they didn’t even know their neighbour’s full name, while a fifth didn’t know their neighbours’ occupations.

Even more worryingly, one in 14 said they didn’t know who lived next door and 3 per cent said they felt threatened by their neighbour.

It is estimated that disputes between neighbours over issues such as noise, are behind 360,000 house moves each year.

However the survey found that a fifth of respondents would like to improve their relationship with neighbours.

Samantha Baden, of findaproperty.com, said: ‘It’s not just tangible factors like transport links and square footage that contribute to property price – the strength of the local community is a real selling point for many buyers too.

‘The fact that people are willing to pay more than £15,000 to live near a good neighbour highlights the importance of community and security when choosing a new home.

A shortage of affordable housing and difficulties in securing a mortgage can make it difficult for people to move house if their relationship with neighbours breaks down.

A new report by the Commons Communities Select Committee suggests that it should be easier for people to build their own homes.

MPs want local authorities to be given more control over housing projects to help remove barriers to self-build schemes.

The report also calls for pension and investment funds to invest in building new homes.

Tags: affordable homes, FindaProperty.com, housing shortage,


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