High-End Home Buying | What Buyers Look For In Prestige Homes

Miller Metcalfe posted on 19th April 2023

The UK luxury property market is experiencing a significant upturn, with high-end homes selling faster than ever before. According to recent data, the number of homes sold for £1m or more in the UK rose by 11%, compared to the previous years. As demand for prestige properties continues to grow, it’s important to understand what buyers are looking for when it comes to luxury homes.

Buying a high-end home can be an exciting yet daunting experience. For most people, it’s not just a matter of finding a property that meets their needs; it’s also about finding a place that truly reflects their lifestyle and aspirations. So, what are buyers really looking for in prestige properties in the UK?

Size & Space

One of the most significant factors that buyers look for in a prestige property is size and space. High-end homes are typically larger than standard homes, with more square footage and more rooms. Buyers in this market are often looking for expansive living areas, multiple bedrooms and bathrooms, and outdoor spaces such as gardens or balconies.

Location Location Location

Analysis of Land Registry transactions data reveals the largest uplift in transactions take place in March, with housing transactions averaging a 28% bounce in March over the past 10 years. Spring is often associated with new beginnings, and this mindset extends to the property market as well. Many potential buyers begin their search for a new home in spring, motivated by the desire for a fresh start and the knowledge that they can complete the purchase process and move in before the colder months arrive. This increased demand can result in a more competitive market, driving up the final sale price of prestige properties.

Technology

Beyond location, high-end buyers also seek properties with distinctive and unique features. One example is smart technology. Today’s buyers want homes that can be fully automated, with the latest in-home technology that can be controlled remotely. High-speed internet connectivity is a must, as many buyers work from home or require fast internet for streaming and entertainment.

Luxury Amenities

Luxury amenities are a must-have for buyers of prestige properties. High-end homes are often fitted with the latest technology, such as smart home systems, automated lighting, and temperature controls. Other luxury amenities that are often sought after include swimming pools, home cinemas, bars, and private gyms.
Buyers also look for homes with high-quality finishes, such as marble or granite countertops, top-of-the-line appliances, bespoke design and finishing touches, such as handcrafted cabinetry and premium materials, to reflect their individuality and taste.

Privacy and Security

Privacy and security are significant concerns for buyers of prestige properties. These buyers are often high-net-worth individuals who value their privacy and want to feel secure in their home. Homes in gated communities or those with security systems and CCTV are particularly popular.

History & Character

Interestingly, a recent survey of high-end buyers found that many place a high value on the history and character of a property. Original features such as fireplaces, exposed beams, and unique architectural details can add to a property’s charm and appeal. In fact, many high-end buyers are willing to invest in restoring historic homes to their former glory, in order to preserve their heritage for future generations.

Miller Metcalfe

Miller Metcalfe are approachable, friendly and committed to making your move as quick, simple and stress free as possible – just what every estate agent should be!

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High-End Home Buying | What Buyers Look For In Prestige Homes

Size & Space

Location Location Location

Technology

Luxury Amenities

Privacy and Security

History & Character

Miller Metcalfe

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