Most people searching for property online in the UK are not able to buy

It is easier than ever to search for a new home online but while more than 6.5 million people a day do so in the UK only a third are actually in a position to buy, according to new research.

The rest are dreaming about the homes they look at and the research from Strata Homes even suggests that around 1.3 million, or one in five, call themselves property addicts.

A third said that more than 50% of the properties they search for are out of their budget while 61% said they enjoy searching for their dream property, 33% said it inspires them to work harder and save money whilst a further 30% are envious of what other people own.

It also found that 44% have no intention of moving home in the next 12 months and even those who are not in a financial position to be able to move still look to see what is available.

Some 43% are currently saving but not in the position to purchase and of this group, 22% want to buy in the next 12 months whilst 21% believe it will take them longer than a year to reach their financial goal.

More than 50% of people dream search at least once a week and when online, almost 70% of people spend up to 30 minutes at a time browsing property pages and apps whilst a further 27% spend between 30 minutes and an hour.

Those aged 55 and over are most likely to spend up to 30 minutes per sitting whilst more than one in 10 aged 25 to 54 spend between 45 and 60 minutes while those aged 45 to 54 spend between 30 minutes and two hours each time, closely followed by 35 to 44 year olds.

For convenient searching, one in five people have more than two property apps on their main device, with Rightmove and Zoopla coming out on top, closely followed by Purple Bricks and Property Pal.

The research also reveals that more than half of people consider house hunting a hobby. This percentage rises to 66% for both the 16 to 24 and 25 to 34 age group.

Kindly shared by Property Wire