Given the number of people who took advantage of the stamp duty holiday, it is likely many people are currently enjoying life in their new home, or are looking forward to moving into their new home.
At Austin Property Services, we know that once you move into a new home, you want to settle into it. Hopefully, you will be in your home for many years to come, and you’ll make many happy memories.
Of course, given the tribulations of the past year, we know many people are also keen to fin d a home they love, and never move again!
If circumstances change, we are always here to help. No matter the reason you need to move, we are here for you. However, a recent study suggests many recent buyers are keen to stay put for as long as they can.
How was the moving process for you?
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
Many buyers might not enter the market 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
As we said, we know there are reasons why people will re-enter the housing market. If this is you, we are here to assist you.
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.”