To address the housing shortage and ensure that the housing stock deficit is erased, the UK needs to build 340,000 new homes every year until 2031. As such, the residential construction sector is under increasing pressure to build the volume of homes the country so desperately needs, which will require not only meeting but exceeding the Government’s current pledge to build 300,000 new homes annually. It’s also critical that these homes meet the needs and demands of future homeowners.
To gain insight into this, Eurocell surveyed 1,000 25-40-year old renters and home owners to investigate their views on how the homes of the future could be designed to meet their expectations. When asked about the most appealing design trends they’d want in their home, respondents identified an eco-friendly home (29%), open plan living (24%) as the top two most appealing, with floor to ceiling windows and a minimalist look coming joint third with 23%.
When asked further about their attitudes to eco-friendly building and design, 49% of respondents said they would be more likely to buy or rent an eco-conscious home. However, despite this interest, only 24% said they would be willing to pay more money when buying or renting a property with eco-features.
Overall, 46% of respondents said they would be willing to pay a little bit more in rent or property price if it incorporated their favoured design trends. In addition, 10% said they would pay significantly more.
When asked which top three factors contribute to them feeling good in their own home, respondents identified the amount of natural light (48%), low noise levels (39%) and feeling safe and secure (37%) as the most important. These were closely followed by access to outdoor space (36%), and the design and layout of the home (35%).
Following the survey, Eurocell asked experts from Simpson Haugh, Hawkins Brown, BDP and The High Street Group to analyse the findings and identify the trends that are shaping the current residential property market.
To find out more about the homes that consumers would like to see and learn about the trends that architects are seeing in the market, you can download Eurocell’s ‘The Future Home Report’ here: www.eurocell.co.uk/whitepaper