South east and London hit hardest as UK homebuyers faced £3.6bn repair bill on properties

 
James Nickerson
Follow James
A fifth of houses do not meet the department of communities and local government "decent homes standard" (Source: Getty)
hose who bought a home and failed to look into the condition of the property they were moving into faced a total repair bill of close to £3.6bn in 2014, according to new research.

R


Research from e.surv, the UK’s largest chartered surveyor, shows that in July 2015 alone, UK homebuyers faced “unexpected repairs worth over £300m”.

Read more: As rental prices soar, where do Londoners move to when they quit the city? Broadstone and Brentwood top the list

The south east in particular faces the biggest annual repair bill at close to £820m in 2014, followed by London at £448m. The north west faced a bill of £325m.

A total of 773,400 mortgage buyers moved home last year, but only twenty per cent, or 154,700 buyers, opted to commission a private survey. As buyers did not know about faults in the house, they faced an estimated repair bill of £3.56bn.

According to the department of communities and local government, a fifth of houses in England do not meet their “decent homes standard”.

Read more: London house prices up 45pc in five years - Home movers put off as figures soar

Richard Sexton, director of e.surv chartered surveyors, said:

On average, the repair bill faced by buyers who don’t get a survey is close to £6,000, while some may find themselves facing costs far higher than this figure.

Related articles