Location 'most important factor' when buying property Published: 10/10/2008

When choosing a property, it is all about location, location, location, according to a new survey.

A poll by Halifax Estate Agents found that prospective buyers would pay a £20,000 premium to get a property in an ideal location.

Respondents voted the location the most important factor when considering buying property.

One in four respondents said the most important factor for a home is that it is close to the countryside.

And people would pay an extra £35,000 to secure a home which was in proximity to the countryside, the survey found.

Proximity to work was next in line followed by good transport links, restaurants and coffee bars.

In fifth place was closeness to a school, chosen by 12 per cent as the most important factor.

Gordon Edwards, managing director of Halifax estate agents, said: "Location and lifestyle factors are essential in the home buying decision process. Although other factors such as budget, property specification and availability play an important part, most people begin their search for a home by looking at geographic location first. Once they have decided on an area in which they want to live other factors then come into play.

"It is important to look into these factors when marketing your property. A few quick and easy pieces of research can help promote your home to prospective buyers. If, for example, your home is near a good school try to find out as much information about it as you can - your local education authority will be able to provide you with information."

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