First-time buyers in the South East would purchase property of just 35 square meters
Prospective first-time buyers in the South East would purchase a property as small as 35 square metres in size, a survey has suggested.
Research by MADE furniture retailer included a survey of 2,150 potential first-time buyers across the UK, asking the the minimum floor space they’d be willing to accept in order to get on the property ladder.
On average, first-time buyers in Sussex would be prepared to buy and live in a property that is just 34.6 square meters.
The figure is almost on third of the size of the average property size in the UK (90 square meters), and below the average of the survey, which was 34.7 square meters.
When asked which feature the first-time buyers would be prepared to live without, however, those surveyed said an eat-in kitchen (32 per cent) and outside space (21 per cent). Twenty per cent would forego natural light, while 14 per cent would give up having a bath.
Seven per cent wouldn’t mind not having a dining area, and another seven per cent would even be willing to give up having a separate bedroom, and even storage isn’t an issue for 44 per cent of those surveyed, who admitted to storing belongings at their parents’.
Respondants were also asked about their priorities when buying their first property.
Affordability came top, at 32 per cent, followed by space (26 per cent), neighbourhood security (16 per cent), proximity to public transport (ten per cent), proximity to work (eight per cent), proximity to family and friends (six per cent), and finally, the look and style of the property (two per cent).
The figures for minimum floor space respondents were willing to purchase in England on a regional level are as follows:
North East: 31.3 square metres
East Midlands: 31.9 square metres
North West: 32.7 square metres
South East: 34.6 square metres
Greater London: 35 square metres
South West: 35.3 square metres
East of England: 35.4 square metres
Yorkshire & the Humber: 35.8 square metres
West Midlands: 37 square metres