The importance of space for buyers has been seen with the heightened activity from “second-steppers”. The housing market isn’t being locked down again, and with the stamp duty holiday deadline looming, this is expected to be a busy.
At Country Properties, we believe areas like Letchworth Garden City are in significant demand. This is backed up by evidence of people looking to leave London, and it is seen in the demand for larger homes in areas with considerable space.
Rightmove know what buyers are looking for
Tim Bannister, Rightmove’s director of Property Data, said: “Increased competition for second-stepper homes has pushed prices to a record this month for those looking to take the next step up the ladder. Needing more space has always been the most popular reason for moving house, but now there’s a new urgency for extra space to be able to work from home, which means that there are different sets of buyers competing for the same type of property.”
Tim continued by saying; “At the start of the year a fourth bedroom was very much a luxury for buyers trading up, but it’s now emerging as a must-have for those who are able to take that step. With overall asking prices just a few hundred pounds shy of July’s record, and buyer demand at an all-time high, those currently looking for their next home are likely to find that only offers close to the asking price will be considered, especially for larger homes.”
What are buyers looking for during the viewing process?
While it is important to know what buyers are active in the market, it is also vital to know what they are looking at. It is well established that additional room and green spaces are crucial for buyers, but when it comes to the viewing process, what are buyers looking at?
With another lockdown period upon us, homeowners have more time to prepare their home, and knowing what buyers eyes are drawn to during a viewing is useful information.
An innovative study carried out by comparethemarket.com offers insight into what prospective buyers look at, and test, when viewing a prospective property. These might not be the factors which make or break a buyer’s resolve to make an offer, but if problems arise, a buyer might not be inclined to follow up their initial interest in the property.
Some of the most commonly considered points include:
· The quality and condition of radiators
· Access to a garden space
· The level of water pressure
· Cupboard doors
· The comfort of beds
· How well the oven works
· How light switches work
· The accessories which add a touch of personality to the property
Mark Gordon, head of mortgages at comparethemarket.com, said: “UK house prices are currently on the up and with the stamp duty holiday prompting more buyers to get on the property market, it’s a competitive time for homeowners looking to sell their home. We conducted this experiment to determine the areas of the home buyers look at most to help sellers maximise their chances of a sale. Some sellers may not have considered these factors when preparing their homes for viewings, so we hope our insight will help them focus on the areas they should check and freshen up.”
Currently, in line with Government guidelines, our Letchworth Garden City branch is open and our and lettings personnel are here to assist you. To clients old and new, if you have any queries or need advice on property sales and lettings then please call 01462 481100 or email firstname.lastname@example.org.