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Community spirit high on housebuyers must have list

A strong sense of community is high on the priority list of more than half of potential homebuyers when looking for a place to live, new research shows.

In a survey by Yorkshire Bank 54 per cent of home loans customers looking to buy their first house said they would spend more on a property in an area with a good community spirit.

And 74 per cent said they thought neighbourhood watch programmes were a good idea, helping them to feel more reassured about living in the area.

Gary Lumby, Yorkshire Bank's head of retail, said: "Having a sense of community is still a very important factor in the buying process and there is a genuine desire for neighbourhood watch programmes and community groups."

However, whilst community spirit was high on the must have list so too was privacy, with only one in five respondents saying they would like to get to know their neighbours better.

But many first time buyers hoping to get a foot on the property ladder may have to wait a little longer before they can purchase their dream home as mortgage providers tighten their lending criteria and pull their 100 per cent home loans from the market.

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