You know there is demand for homes these days, and that the supply of homes is unable to keep up. However, this doesn’t mean homeowners can afford to become complacent when going to market.
There are still things many prospective buyers hate to see, and these should be avoided at all costs.
If you are looking to sell your home, contact Coakley & Theaker, and we will be more than happy to assist you.
A study by designer radiator specialists, BestHeating, which spoke to more than 2,000 people, found the issues which put people off when looking at a home.
The following reasons were cited:
63% of prospective buyers said structural issues put them
62% of potential buyers are put off a home by damp
57% of buyers say mould puts them off buying a house
52% say cracks are the factor that turns them off making an offer on a home
51% of buyers say leaks are the factor that stop them desiring a house
46% of potential buyers are put off by neighbours
27% of buyers are thwarted by the layout of the house
10% of buyers are put off by the décor of the property
John Lawless, content marketing manager of BestHeating commented: “Buying a house is the biggest commitment you can make so it is interesting to see that we appear to favour moves to less populated areas rather than the liveliest and most inhabited cities like London or Birmingham where Brits really don’t want to live. As seen by the desire to live in either York or Bath, we want space and greenery for our homes but would also like to be somewhere with history so that it strikes the right balance between not being too busy but being well known.”
John concluded by saying; “It is vital that when looking for the next property that you do all the correct checks as the last thing you want is a financial headache later when you find out that the house you thought was perfect has lots of problems. Remember, no issue is too small to question even if it is that the neighbours are nosey.”
A useful opinion to have with respect to the housing market is what homebuilders think. A recent study uncovered the following opinions:
70% of property builders believe that changing lifestyle requirements will drive buyer behaviour in 2022.
71% of housebuilders said they felt “cautiously optimistic” regarding what lies ahead in 2022.
60% of property builders forecast new build home prices will settle into a period of “continued steady growth” as opposed to continually setting peak levels.
62% of property builders believe transaction levels will revert to levels previously seen before the pandemic
60% of housebuilders raised concerns about the impact an increase in interest rates might have
Daniel Hill, Managing Director, WhatHouse? said: “It’s still early days. We are yet to see the full impact of the pandemic on home buyers’ behaviour. Hybrid and home-based working continues to be trial and error for many businesses, once a seismic and more permanent shift takes place we will once again experience a surge in people considering relocation and hunting for more inside and outside space.”
At Coakley & Theaker, we aim to support the local community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today by calling us on 01284 769691.