"With crime rates rising across the UK, it is no surprise to see that this is having a detrimental knock-on effect on homebuyer confidence. "
The research found that 69% of potential homeowners are fearful over crime rates in the area they are looking to buy in.
Estate agents estimate that 2.4% of house sales fall through as a direct result of buyers’ fears over crime, equating to 80 homes per day, with a total market value of £6.6 billion.
The biggest concerns voiced by homebuyers to estate agents are local burglary rates, followed by drug-related crimes, assault, property vandalism, vehicle vandalism and car theft. The study also found that one in nine buyers (11%) were described as ‘extremely concerned’ about local burglary rates when looking at properties.
Additionally, 15% of estate agents believe that local crime rates are becoming an increasing issue for prospective buyers.
Across the UK, the total number of crimes rose by 12% between 2014 and 2018, with nearly 5.8 million crimes reported to police forces last year alone.
Craig Rixon, head of Churchill Home Insurance, said: “With crime rates rising across the UK, it is no surprise to see that this is having a detrimental knock-on effect on homebuyer confidence. Buying a home is a major financial commitment and it is important to assess several factors when considering where to live, with local crime rates being one of them.
“However, this should not necessarily deter purchases of dream properties. No matter where the property is, or what the crime rates are in the area, homes should always be fitted with an appropriate level of security features, including locks, an alarm and security lights, as often burglars will look for the easiest home to enter on a street. For further peace of mind, it’s always necessary to have a comprehensive, up-to-date home insurance policy that covers householders in the event of them becoming victim of a burglary.”
