What is the term for the concern a buyer has about a property's location being in a busy area?

The term that refers to the concern a buyer has about a property's location being in a busy area is indeed "area performance." This concept encompasses how a specific location impacts the value and desirability of a property. When a property is situated in a heavily trafficked or busy area, it can influence factors such as noise levels, safety, and overall livability, which ultimately affects the buyer's perception of the property's worth.

Area performance takes into consideration not just the physical attributes of the property, but also its surroundings and how those surroundings contribute to or detract from the potential enjoyment, usability, and investment value of the property. Buyers often analyze the performance of an area based on various criteria, including accessibility, local amenities, and the general environment.

In contrast, physical deterioration refers to the condition of the property itself over time, and permanence of investment relates to the stability and long-term expectations surrounding property as an asset. Immobility, a key characteristic of real estate, highlights the inability to move the property, reinforcing that value is heavily influenced by its physical location. Thus, area performance is the most suitable term for a buyer’s concerns regarding a property’s location in a busy area.