Some 85% of mortgage brokers are observing demand for homes in ‘new towns’ across the UK, with the majority expecting them to transform homeownership, a Santander poll has revealed.
The East of England tops the list of desirable locations, with over half (52%) reporting demand in the region. Scotland, the South-East, and the South-West are also sought-after (all 23%), closely followed by Wales (22%).
New towns encompass large-scale developments built on greenfield land, separated from existing settlements, with each site being eyed to host at least 10,000 homes.
David Morris, head of homes at Santander, said: “The growing appeal of new towns highlights a shift in priorities among today’s home buyers. In addition to affordability and getting a foot on the property ladder, buyers want a holistic community that supports their families’ needs, with reliable healthcare, strong education options, and seamless transportation.
“There have been unavoidable challenges, as is the way with any new and ambitious initiative. However, support structures and incentives such as expanded LTV offerings may help to alleviate a degree of the strain being felt by both brokers and buyers.”
Among those expressing interest in new towns, nine in 10 brokers say access to medical facilities is crucial for their clients, with 58% citing it as an extremely important consideration. Other key factors include access to quality schools (88%) and robust transport links (87%).
Chris Curtis, MP for Milton Keynes, said: “New Towns like Milton Keynes show what’s possible when we commit to building thriving, connected communities where people can live, work, and grow.
“I’m incredibly proud to represent a constituency that exemplifies these values and it’s really encouraging that brokers are seeing an 80% rise in interest in new towns from prospective buyers.
“Like these brokers, I believe new towns will dramatically change the homeownership landscape in the next three years. This is a promising direction for both brokers, and buyers alike.
“New Towns are about more than just houses—they’re about creating a sense of belonging and building a shared future we can all take pride in.”
Via @PropertyWire