"It’s the smaller, more functional features that are currently resonating with buyers, such as a more usable kitchen space"
- Verona Frankish - Yopa
New insight from Yopa has revealed which unique property features are seeing home sellers secure a buyer at a faster rate than the wider market, with functionality and cost saving measures trumping high-end housing features.
Yopa analysed thousands of current property market listings to have entered the market within the last month, looking at a range of unique market features, before analysing which of these features are most in demand with today’s homebuyers.
The data reveals that, on average, 12% of all properties to have been listed in the last 30 days have found a buyer.
However, there are three unique features that are seeing a higher proportion of properties sell within a month of listing.
The most desirable design feature for today’s homebuyers is a breakfast bar, with 13.6% of all homes listed in the last month with a breakfast bar already finding a buyer.
Similarly, kitchen islands are proving popular, with 12.6% of all homes listed in the last month complete with this feature having already sold.
EPCs have been making the headlines once again within the rental sector and it appears as though homebuyers are also prioritising a property’s energy efficiency.
12.6% of all homes listed in the last month which boast an EPC rating of C or above have already found a buyer - with this level of demand again sitting above the wider market benchmark.
With demand at 11.1% and 10.4% respectively, freestanding baths and doer uppers are also seeing fairly robust levels of buyer demand in the current market. Wooden beams (9.7%), dressing rooms (9.5%) and high ceilings (9.2%)
At the other end of the table, a pool is the least in demand feature at 5.6%, with large gardens also surprisingly out of fashion with just 7.1% of total stock having already been sold.
CEO of Yopa, Verona Frankish, commented: “Unique features are a great way to help your home stand out from the crowd, particularly in current market conditions where it’s become somewhat of a buyers market due to reduced demand in some areas caused by higher borrowing costs.
"However, it’s important to understand which unique features are enticing buyers and to what end this could help you to sell your home more swiftly or boost the price you can achieve.
"For example, it’s the smaller, more functional features that are currently resonating with buyers, such as a more usable kitchen space. The chance to reduce their outgoings with a more energy-efficient property is also a high priority and this speaks to the fact that whilst the market outlook has improved, many buyers remain restricted due to higher mortgage rates.
"As a result, more opulent offerings such as swimming pools, large gardens and grade-listed features aren’t in high demand, no doubt due to the fact that homes boasting such luxuries are at the higher end of the house price scale and out of reach for most in today’s market.”
