First-time buyers guide to house hunting

Finding the ideal spot to invest or put down roots is a daunting task.  When looking to buy a house most people start with the basics, what’s my budget and what can I find that offers me the best value for my hard-earned cash, however, there are so many variables that can affect quality of living, from noise pollution to local crime and everyday household bills and rates.

The team at price comparison site Quotezone has compiled the ultimate buyers index, to help house hunters with their research.  The guide compares the regions across England for house price, crime rate, noise pollution, rates and insurance prices.

The research shows London, North West and Yorkshire as top spots for burglary with 24-38,000 incidents in the last year.  With London and the South East worst for overall crime volume and red flags for Yorkshire and The Humber in terms of crime rate.

House price changes show potential value for money in the West Midlands with annual house prices dropping by 2.9% – although a watch out for council tax increases as the likes of Birmingham looks set to brace for an increase of nearly £400 a year. Properties in the North East have swung in the other direction, growing in house price by 2.9% over the last 12 months – with the cheapest overall average house price of £160,406.

The South West is said to be 37% safer than the overall England crime average with a crime rate almost half that of Yorkshire at 56 and just over 10,000 burglaries.

Other factors such as noise pollution and proximity to busy roads are also worth taking into consideration when choosing a property.  Unsurprisingly London topped the ratings for people who were annoyed or sleep-deprived by road noise but it’s interesting to see the North West followed close behind with 99 and 79 people per 100,000 annoyed and not sleeping due to the noise.

Founder and CEO of Quotezone.co.uk, Greg Wilson, said: “It’s an incredibly difficult time for those trying to get on and move along the property ladder.  The cost-of-living crisis has made people reluctant to move and getting a mortgage is challenging.  As the economy starts to show initial signs of recovery, it’s likely 2024 will see more movement across the housing market.

“Given it’s not a quick or easy process to change houses these days, buyers have to be extra careful where they buy, ensuring they do the research to find if the property and the area suits their household now and for the next several years. 

“Our index is designed to help house hunters with their research, pulling together elements they should be wary of such as burglary incidents and excessive noise.

“Most mortgage lenders insist on a home insurance policy to protect their investment and it needs to be in place prior to moving day, when accidents can happen, but it doesn’t have to be expensive.  House hunters can shop around for competitive prices and add or remove extras they don’t need to find savings and protect their finances. Using our index can help as it shows the average home insurance price in that area – so homeowners can gauge if they’re getting a good deal and if not, renegotiate or switch providers.”

The full ultimate buyers index is available here.  For savings on household bills and essentials, Quotezone.co.uk can help. 

References:

Crime rate and total crimes – https://crimerate.co.uk/england

Burglary statistics – https://www.ons.gov.uk/peoplepopulationandcommunity/crimeandjustice/datasets/policeforceareadatatables

Average house price – UK House Price Index summary: February 2024 – GOV.UK (www.gov.uk)

Road-traffic noise DALY rates (per 100,000 people) by English regions (2018).Appendix A Supplementary materials – https://www.sciencedirect.com/science/article/pii/S0160412023002398#:~:text=Results,%E2%88%BC17%2C000%20from%20aircraft%20noise.

Insurance Data – The sample used 100,000 home insurance policies from Q1 2023 – Q1 2024, based on the UK average three bedroom property.