Welsh home owners are the most pessimistic about the idea of being able to achieve a quick house sale.
According to research carried out as part of our #MyFirstHomeMemories campaign, Quick Move Now have identified that Welsh home owners don’t have faith in the open market.
Welsh home owners don’t have faith in the open property market
Home owners throughout England and Wales were asked about their previous and current properties, as well as expectations around future property moves, and it seems 71 percent of home owners questioned in Wales anticipate having to wait more than three months to get an acceptable offer on their property.
Their pessimism may not be unfounded, however. As we reported in our 10 worst places to sell a house article, both Llandudno and Colwyn Bay in North Wales are particularly challenging places to sell property, with average ‘time to sell’ figures at 390 days and 316 days respectively.
As a whole, the majority of respondents (56 percent) predicted that it would take between one and three months to accept an offer on their property, with 50 percent of home owners in the property hotspot of London expecting their property to be’under offer’ within a month.
When asked about features that make a home more attractive to prospective family home buyers, ‘proximity to schools’ was cited as the most valuable asset, followed by the property’s location and local amenities.
Physical attributes within the property featured very low on the list, with only seven percent believing an ensuite bathroom would entice a buyer, and just three percent thinking that a conservatory would do the job.
The research also found that whilst there are some things home owners are willing to go without – such as purchasing a new car – in order to fund essential home improvements, family holidays are something home owners are very reluctant to give up.
Danny Luke, Quick Move Now’s Managing Director, commented:
Our research shows that confidence in being able to achieve a quick house sale varies hugely from region to region.
It seems that location is far more important to family home owners than the property itself, with many prioritising proximity to good schools and other local amenities far above property features, which may explain families’ reluctance to sacrifice the all-important family holiday in order to carry out home improvements.
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