Property Buyers Taking Only 53 Minutes To Buy A Home

eMoov Property purchaseAre you thinking of buying a property? Lets be realistic National Homebuyers know that buying a new home will probably be the biggest financial investment you’ll ever make due to the high purchase value of such an asset.

So you would think that people would spend a lot of time contemplating and deciding on what property to purchase? Apparently not according to the latest consumer insight by eMoov, a UK online estate agent.

They surveyed over 1,000 UK homeowners to find out how long they took when searching to make an offer for a property. Amazingly their researched found that buyers take just 53 minutes to make a decision to buy a home.

However even though this decision time frame appears relatively low it is in fact higher then last years reported figure which was even lower at 38 minutes. So this suggests that people are now taking at least a little longer  to make a decision.

This years report continued by showing that the majority of property buyers (53%) return for second viewing, with a further 41% feeling the need to view a property more than twice.

This consumer insight went on to find out what research homeowners carry out before attending a property viewing. The results where as follows:

 

What Research Would You Do Before Viewing A Property? %
   
Read the full property description 67.00%
Look at other properties listed in the area 59.00%
Look at the property on google street view 56.00%
Take a detailed look at the floor plan including room sizes 53.00%
Look at local amenities, employment and infrastructure 49.00%
Find the historic price of the property and neighbouring properties 44.00%
Research changes to commuting route and times 32.00%
Research school catchment areas 25.00%
Source – eMoov

Russell Quirk, Chief Executive Officer of eMoov, commented:

“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.

 

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