Nine out of 10 new home buyers would invest in a new-build again

 

Satisfaction among buyers of new-build properties in the UK is rising. A recent survey explores why so many people opt to buy brand new.

As the quality of new-build housing in the UK has improved, so has its reputation. In the latest national new home customer satisfaction survey published by the Home Builders’ Federation (HBF) and the National House Building Council, 91% of new-build buyers said they would purchase a new-build in the future.

Further to this, 89% of respondents said they would recommend their builder to a friend. This is an improvement on the previous year’s results, when 87% would have recommended their builder.

The survey looked at a wide range of factors, all of which indicated an ongoing rise in general satisfaction among new-build home buyers.

Improving satisfaction rates

When asked about internal design and layout, 93% of new-build investors or homeowners were very satisfied or fairly satisfied. On external layout, 84% were very satisfied or fairly satisfied, while on external design 88% said the same. Other areas that scored highly were the handover process and the information provided by the builder. In both of these factors, 86% of people were very or fairly satisfied.

Looking at overall quality of the new-build, 86% were very or fairly satisfied with the final product. According to HBF, this is one of the areas that has seen vast improvement in recent years.

Stewart Baseley, executive chairman of the HBF, said: “We have now seen three successive years of improved scores, underlining the industry’s determination to get it right for its customers.”

“Whilst builders are now delivering levels of satisfaction that compare with any other product or sector there is still more to do. The industry is totally committed to helping put in place a New Homes Ombudsman service that will provide further reassurance and confidence for the buyers of new homes.”

Surge in five-star rated builders

This year’s survey registered 36 UK housebuilders with a five-star rating. This is significantly up from 2019’s report of 21.

To come up with the star ratings, the survey uses respondents’ answers to the question: “Would you recommend your builder to a friend?” Where more than 90% would, the builder receives a five-star rating in HBF’s list. Four stars go to those achieving an 80-90% “yes” rate, three stars for 70-80%, two stars for 60-70% and one star for 50-60%.

UK housebuilders achieving five stars this year include Barratt Developments, Bellway Homes, Crest Nicholson, McCarthy & Stone and Riverdale Developments. The full list can be found here.

Commenting on their success, Peter Truscott, CEO of Crest Nicholson, said: “The HBF customer satisfaction survey rating gives us valuable feedback on how successfully we are delivering the great quality, support and after-care our customers expect and deserve.

“We are delighted to have achieved a 5-star rating and will continue to work hard to further improve our customers’ experience.”

The perks of new-builds

The survey also provides a list of the key benefits of buying a new-build property. While many of these will apply to prospective homeowners, the list applies to those looking at new-builds as an investment property, too.

  1. High build quality: As shown in the survey, the quality of new-builds is improving all the time.
  2. Designed for modern living: Modern designs and technologies are standard within new-build homes. Upgrading an older house to the same standards could cost up to £45,000.
  3. Cheaper to run: Newly built properties can be around 50% cheaper to run compared to their Victorian equivalent. Even for a one-bed, this could mean savings of £440 per year.
  4. Environmentally friendly: Energy efficiency standards are significantly higher in new homes. The government has set targets for new housebuilders to keep improving these standards.
  5. Peace of mind: There’s a builder’s guarantee for the first two years after buying a new-build. There’s also an independent 10-year structural warranty. The New Homes Ombudsmen will increase protections further.

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