Happy Customers

"So, what can I say? National Home Buyers….were fantastic, yes, they made a good chunk of money on my house but you know what? They dug me out of a hole where I had given up hope of anything good happening. From start to finish they were very helpful, I must say though that Laura […]"

Mrs M, Devon

"We were really pleased with the service we received and it did exactly as it said on the tin. Dad is now out of hospital and has cash in the bank, which has meant he can see his Grandchildren enjoy their inheritance."

Mr B, Burnley, Lancashire

Third of homeowners would not be able to afford their own home today

A new survey has found that a third of British homeowners would be unable to afford their home if they had to re-purchase it today thanks to record value increases.

We often hear about the ever-widening gulf between wages and sold house prices, yet the quantitative data provided rarely illustrates the points in a fashion to which many people can relate. Every so often, however, surveys are carried out that use a more qualitative approach, offering a more straightforward viewpoint from individuals to which we can relate ourselves.

This month, a new survey of 3,000 homeowners by MyJobQuote has provided an interesting perspective held by many in regard to the steep rise in house prices over the past few decades.

In the survey, over a third of those sampled stated that if they would have to re-purchase their own home today, they could not afford to do so. Furthermore, the research found that across the 3,000 homes in question, there had been an average increase in value of over £50,000.

Despite the low-performing economy, house prices have continued to increase in value at an unprecedented rate – with a 2.2% increase in the last year alone. And while this may appear to be great news for those who own, the true value of a home is, in reality, based on how much a prospective buyer is willing to pay for it. And as houses continue to become more and more unaffordable for those who are not already on the property ladder, those looking to sell their house fast should be weary if they opt for a high asking price – unless they are willing to see their house spend a long time on the market.

Interestingly, the Halifax House Price Index has found that the number of those currently living in rented accommodation who are planning to buy their first home appears to have fallen in first half of 2018.

While this may be a result of national insecurity regarding the aftermath of the decision to leave the European Union in March 2019, many social experts believe that the fall in interest may simply be the result of renters already giving up on the dream of one day owning their own home.

“The Halifax numbers confirm other reports of a more general slowdown in market activity, with fewer homes being sold, fewer houses being put on the market, and a decline in consumer confidence,” said Mike Scott, chief property analyst at estate agent Yopa.

“If this slowdown continues for the rest of the year, 2018 will turn out to be the least active year for the housing market since 2013.”

So, what can sellers do if they need to sell but can’t find a buyer? Well, one of the increasingly popular methods to secure a sale in the short-term is to contact a property buying company who can provide a competitive quote, and if the vendor is happy, then a sale can be completed in as little as two weeks.

Can’t find anyone to buy your home? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

How to sell your house when separating or divorced?
What are the costs of selling a home?