Almost two in three of the people questioned in a survey said new houses should be created by redeveloping urban land, while just 9 per cent favoured development on green field sites, said Barclays Mortgages. The majority, 59 per cent, said their favourite place to live would be a quiet suburb, while 21 per cent favoured an older property with land. Town-centre living was chosen by just 11 per cent.
Price was the key consideration for the majority of people in choosing a new home. But the report emphasised that location still mattered, with 69 per cent of people saying they would choose a smaller, cheaper house in a better area rather than a bigger house in a less attractive place.
Jim Chadwick, managing director of Barclays Mortgages, said: "If Britain is to have the 4.4 million extra homes it needs by 2018, housebuilders will need to cater for a variety of tastes and look for innovative ways to maintain their market share."