Developers challenged as location remains key

Almost two-thirds of new buyers value the location of their new property above all else, a new study from property developer Investland has revealed.

Home hunters' standards remain high despite depressed market.

More than 60 per cent of those quizzed claimed that the whereabouts of their future home took priority over competing concerns, such as interior design, transport links and parking.

The news will come as a wake up call to many developers as home buyers continue to avoid compromise on key details when looking for a new home.

The UK's homeowners are still demanding quality despite the increasing difficulty they're facing in climbing the property ladder.

As activity continues to dry up amongst UK developers, the figures perhaps point towards a light at the end of the tunnel.

Home buyers are still committed to well located properties, so far-sighted firms that focus on identifying the next growth areas are likely to reap the benefits.

The size of a home was the second most significant factor when looking for a dream property, with less than 10 per cent swayed by a property's interior and even fewer prioritising parking space.

Joe Gerrard, joint managing director of Investland explained: "These figures reveal a basic lesson that could be key to the survival of many developers in the current market - location.

"Investland went through a similar experience when we first entered the residential market in the early 1990s, putting a great deal of effort into identifying areas that we felt would become popular for home buyers a few years down the road".

He continued: "Our experience has shown that building high specification projects in locations that we believe in will deliver results in any market.

Of course this is easier said than done.

Identifying locations that will grow in desirability is far from being a simple task but if done right it can be the best way for developers to extract value from a challenging market.

"Good locations can also be fashioned so if a developer shows enough commitment to an area and works hard at being a regenerative influence, it is possible to create the kind of location that the study suggests home buyers are looking for.

"That level of development can mean taking a risk but this survey has shown that it's a risk worth taking.

It is not enough to simply generate an adequate end product - developers still need to understand the implications of geography and infrastructure and exactly what represents a good location to the consumer.

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