Rightmove conducted a recent study that determined exactly what investors and tenants wanted most from a property.

The study found that out of 600,000 properties available for sale, the houses that were in need of renovation were in the most demand from investors/buyers.  With the current economic conditions, these properties are on average 8% cheaper (£29K) than the average property for sale, making them more attractive to potential buyers. 

Rightmove have suggested that the likely reasoning behind this is due to first time buyers attempting to get on the property ladder and investors looking for bargains to flip or rent out.

Renters are searching for homes with double-glazing, smart technology and being close to transport links as their top ‘wants and needs’.  Because they can’t make changes to their property, things like smart technology to operate heating systems is becoming popular because it can help save money on fuel costs.  A parking space is also ranked highly on the renters list, with households increasingly owning more than one car, the need for parking space outside a property has become more of a necessity in recent years.  For all the property agents reading this article – make sure you mention parking in your rental advertisements, to make the property more appealing.

Whilst the demand is high for renovation projects, there are still many buyers out looking who want a ‘ready to move in’ home and this features at position 7 out of a list of top 10 ‘wants’.

So let’s show you the overview of the results from the research;