+ +
You are here: Home - First Time Buyers - News -

It takes under one hour to buy a home

Written by:
Most buyers viewed their property twice, for a total of 53 minutes, before making an offer
It takes under one hour to buy a home

Property buyers now take 53 minutes to buy a home, according to research from emoov.co.uk.

And this figure has risen significantly from just 38 minutes a year ago.

The online estate agent surveyed over 1,000 UK homeowners to find out how long they took during the viewing process before submitting an offer.

The majority of buyers (53%) return for an all-important second viewing, with a further 41% visiting a third time. However 6% said they made an offer after the first visit.

Founder and CEO of eMoov.co.uk, Russell Quirk, said: “This research shows UK buyers are taking that extra bit of time viewing a property, before submitting an offer. Although demand is still high in a number of areas, particularly London and the surrounding areas, the market isn’t quite as competitive as it has been in previous years, so many potential buyers are opting for a second or third viewing before committing to a property.

“It makes sense given the enormity of such a decision and with buyers not feeling as pressured, there is no need to rush to submit an offer and secure a property after the first viewing.”

Preparation is key

Over two-thirds of buyers read the full property description (67%) before viewing a property, while 59% looked at other properties listed in the area, and over half (56%) checked out the road on Google street view.

The majority also took a detailed look at the floor plan and room sizes (53%), and almost half (49%) researched local amenities, employment and infrastructure (49%).

A quarter of buyers ensured they had established what school catchment area the property was in before attending a viewing.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your Mortgage Guides

Your Mortgage Award Winners 2020-2021

Download our guide to the best mortgage lenders in the UK

Read More >

Read previous post:
Family debt up by 42% in six months

Average family debt – excluding mortgage borrowing – now stands at £13,520, up from £9,520 six months ago

+ +