The latest research by independent home buyer, Quick Move Now has revealed that the majority of family home owners in London and the South-East expect to receive an acceptable offer for their property within one month of putting their property on the market.
68% of family home owners questioned in London and the South-East anticipate only waiting up to one month to receive a satisfactory offer for their property.
These findings follow research that shows Reading heads the list of the top 10 hottest places in the country to sell a house followed by Bristol and Worthing. It takes on average 64 days to sell a house in Reading, 74 days in Bristol and 87 days in Worthing. The league table can be viewed by clicking here.
Taking England and Wales as a whole, the majority of family home vendors (56%) anticipate they will be shaking hands with a buyer between one month and three months after putting their property on the market.
In contrast, 71% of vendors putting family homes up for sale in Wales anticipate waiting more than three months to receive an acceptable offer for their property and taking down the ‘For Sale’ sign.
Proximity to schools is cited by home owners as the most valuable asset that adds value to a family home to attract prospective buyers when taking the decision to sell up. The research conducted by Quick Move Now shows that valuable assets that will attract buyers to facilitate a sale of a family home also include a property in a prime location and a house with local amenities closeby.
However, only 3% of family home owners looking to put their property up for sale perceive that a conservatory is a property feature that will entice family buyers to make an offer. An en-suite bathroom is also only deemed important in attracting offers by 7% of respondents.
The research by Quick Move Now, the UK’s original and largest quick house sale company, also shows that family home owners are twice as likely to forfeit purchasing a new car rather than go without a holiday in order to fund essential home improvements before selling their family home.
Quick Move Now compiled the survey of family home owners conducting a poll of almost 1,000 family home owners in England and Wales and by analysing data from house purchases undertaken by the company in the UK in 2015.
Danny Luke, Quick Move Now Managing Director, said: “Our findings show that hopes for a swift property sale by family home owners vary considerably from one region to another. Expectations are the highest in London and the South-East with many vendors optimistic of exchanging contracts quickly, including in Reading which is now the hottest place to sell a house throughout England and Wales.
Even in areas where properties are hard to sell, our research shows that vendors of family homes are more confident of achieving a quicker sale if the property is located in an area close to schools and other amenities.
Where families are concerned, the location is perceived as far more important to prospective buyers than some of the actual property features which might explain a reluctance to undertake home improvements at the expense of a summer holiday.”