This is according to research from Experian which provides further evidence of the housing trend emerging amongst homebuyers which has – along with the stamp duty holiday – been fuelling the property boom.

The study found 60% of those in their 30s and 51% of those in their 20s said the past year of lockdowns had made them rethink where they’d most like to live.

This rethink, Experian revealed, meant owning a city centre flat was now deemed to be outdated by 46% of those surveyed, with 69% saying they would rather buy a larger property, such as a semi-detached house, in a rural area.

Dreams of a rural location were highest among people in their 30s (74%), with 58% of this age group suggesting location was more important than the property itself.

Property ‘must haves’

In terms of the top ten ‘must haves’ people look for in properties, a garden topped the list, reflecting the growing demand for more outdoor space following the lockdowns:

A garden: 74%

Access to private parking or a driveway: 58%

A spare bedroom: 55%

A bath: 39%

A pet friendly property: 29%

The option to build an extension in the future: 20%

A fireplace: 20%

Wooden floors: 17%

Bay Windows: 15%

A period property: 13%

Although many people have suggested they want to continue working from home following the lockdowns, 61% of people in their 20s said living close to their place of work was still important.

The research found nearly two fifths (38%) of Brits were considering buying a new home within the next five years, rising to 66% of people in their 30s and 67% of those in their 20s.

Experian also found these younger generations were among the most active in purchasing properties while the stamp duty holiday was fully in effect.

Those in their 30s accounted for 34% of the total mortgage applications made during this time, followed by those in their 40s (27%) and those in their 20s (17%).

Mortgage concerns

Even though they want to own a home, 57% of people in their 20s and 55% in their 30s were worried that they would never be able to afford to buy a property or raise enough money for a deposit.

The same groups expressed concerns that they’d never appear ‘mortgage-ready’ to providers, with 49% of people in their 30s and 42% in their 20s worried about this.

James Jones, head of consumer affairs at Experian, said: “Our research suggests high interest in home ownership is likely to continue over the next five years, as the pandemic shifts people’s aspirations as to what constitutes a dream home.

“Green spaces are now more desirable for the majority of those looking for a property, while for those in their 20s living close to work is influential in their home choice.”