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People want cheap mortgages and good locations

Date: Wed, 22 Jun 2005

Home buyers want a combination of cheap mortgages and good locations, according to a new study.

The Royal Institute of Chartered Surveyors (RICS) examines the reasons behind people's decisions to view a potential home, with the leading factor being affordability and the need to secure a good mortgage deal.

The research, which involved more than 150 chartered surveyor estate agents, also revealed that the location of a property can affect whether they consider a purchase - in particular, buyers were influenced by the quality of local schools and the extent of graffiti and vandalism in the area.

The survey revealed that the home's design was another key factor in convincing a buyer to make an offer.

"The study examines what people want from housing," said Diana Fitzsimmons, chair of RICS' planning and development faculty.

"The results are important for those involved in the housing design process, and highlight recurrent issues such as the small size of new build homes."

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