One in three Brits already know the street or house they want to move to
According to research from Zoopla, nearly a third (31 per cent) of the British public know the street or specific house they want to move to in their next property venture.
The research highlights that both tenants and buyers alike have more exacting requirements from selling and letting agents than ever before and are well informed when they start the search for their next home.
The survey of over 6,000 respondents from across the UK asked consumers if they knew where they wanted to live when embarking on their next home move. Regionally, Londoners have the clearest picture in their heads when it comes to where they want to move to. Nearly half (48 per cent) know either the specific house or street they want to live in. In contrast, those in Wales are the least certain, with only 16 per cent knowing which house or street they want to move to.
Furthermore, home sellers are gearing up to buy their dream home by researching beyond just where they want to live, they are also frequently researching the value of their current property. As such, Zoopla has compiled a ranking of the top 10 UK towns where vendors are most likely to check the value of their own home by examining how many times visitors to the Zoopla website used the estimates tool to get an instant valuation on their property.
Residents in Milton Keynes are most likely to frequently check the value of their home. On average they are 42 per cent more likely to run a valuation on their property than the national average. In second place is Bedford at 38 per cent and Colchester in third, where vendors are 32 per cent more likely than the rest of the country to inspect their property price.
What do consumers think about agents?
Although the report claims that many more people are using online agents (24 per cent compared to 12% three years ago), it also gives credence to the fact that the local knowledge of a respected high street or hybrid estate agent is still important. However, it’s transparency and openness about fees and the process was considered the most important factor when choosing an agent, with confidence that they’d negotiate the best price for their property coming in second, at 51%. Levels of satisfaction overall was highest with hybrid agents; high street agents who also have online offering.
The report also offers some interesting findings about the profile of property agents. From a sample of 660 estate and letting agents, 67 per cent considered themselves to be High Street agent, with 17 per cent saying they were a High Street agent with online option and just 11% online only. The disparity in the way agents view the future of the housing market compared to consumers is also curious, with 39 per cent of agents believing that house prices will fall over the next 12 months, whereas 55 per cent of consumers expect house prices to rise over the next year.
Charlie Bryant, Managing Director of Zoopla, commented:
“Our survey highlights to agents that their clients are researching their next property move more than ever before. Zoopla’s range of tools helps consumers with their property research. We also support agents to understand their clients’ exacting requirements by providing invaluable market insights and services to help successfully manage these relationships.”
For the full findings see Zoopla’s State of the Property Nation Report on Zoopla Advantage.
Kindly shared by NAEA Propertymark