16 Jan

Quarter of UK buyers visit property once before buying

Quarter of UK buyers visit property once before buying

New research, released by broker Ocean finance, has revealed that a quarter of UK residents only visit a property once before deciding to buy or rent.

Estate and letting agents may find this interesting as it directly impacts the speed at which a deal can be put in place.

The survey also showed that one in ten house hunters spend less than 15 minutes viewing a property before deciding that is the right place for them.

Such figures are most surprising due to the fact that purchasing a property is one of the most expensive transactions a person is likely to make in their lifetime.

On average, most people will view between four to six homes before making a decision, although in London the number is between five to seven due to the the strength of the market in the capital.

Ian Williams of Ocean Finance said: "Maybe after waiting several years for the financial crisis to end and the housing market to take off again, most people know exactly what they are looking for. 

“But it’s quite shocking that so many people spend less time on choosing their new home than they would watching EastEnders or Coronation Street.”ADNFCR-1222-ID-801682960-ADNFCR

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