If you are settled in your current property, there is probably a high chance you have no intention of moving. When you think of the number of people who have moved home in the last six months, there will be many people feeling settled.
The stamp duty holiday has driven demand, and moves. It has been a challenging time, and it is easy to see why many homeowners have no intention of moving home again. You might be in this situation, and if so, you probably don’t need our services.
Then again, if you are reading this blog, you probably aren’t planning to stay in your home forever.
We are here to help buyers and vendors
Circumstances change, and there might be reasons why you need to move home.
A recent study suggests many people feel settled, and in no rush to move. Which is fine, but if circumstances change, we can help.
Property Platform WiggyWam has spoken to buyers about the moving process.
- 45% of homebuyers in the UK found the property buying process to be so frustrating they vow to never go through it again
- 24% say that although they would prefer to not move again, they expect to do so because of personal or lifestyle circumstances
- 21% say they will never move again
There is an average of one million property transactions in the UK each year. 45% would account for 450,000 potential buyers looking to avoid the housing market. 210,000 buyers would be lost to the market.
However, not all is lost:
- 47% of buyers said the buying and moving process was as they expected it to be
- 20% of property buyers said the experience was better than they expected
- 33% of buyers said it was explicitly worse
What was frustrating?
- 33% of respondents said the time taken to complete the move was frustrating
- 22% said dealing with conveyancers and solicitors was frustrating
- 10% said being unable to find suitable property was most frustrating
- 8% said additional costs was an off-putting element
Silas J. Lees MRICS, WiggyWam CEO, says: “Anyone involved in the house-moving process knows it’s a highly stressful event in a person’s life. I think the industry can grow immune to the real-life impact this has. When the entire process is drawn out, convoluted and rife with delay, as so much of it historically is, people’s lives are negatively affected. We should no longer accept a sales process that is akin to putting clients through a mangle and then charging them for the privilege. This is why we lose 1-in-5 potential buyers every year.”
Silas continued by saying; “And this goes hand-in-glove with the clear fact that movers care little for the taxes, duties, and fees attached to the moving process; something which we in the industry spend so much time fretting over. Buyers and sellers are willing to pay for premium service, to remove stress and tribulation.”
At Williams of Petersfield, we aim to support the Petersfield 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.