As the average age of first-time buyers continues to rise - the latest figures suggest…
With so much activity in the housing market right now, there is considerable competition. If you plan on selling your home, you need to know the market is busy, and you want to know what buyers are looking for.
At Lock & Key, we are here to assist you as best we can. If you have any questions about the Melksham housing market, get in touch, and we will help you out.
Buyer demand is present in housing market
Tim Bannister, Rightmove’s director of Property Data, said: “Increased competition for second-stepper homes has pushed prices to a record this month for those looking to take the next step up the ladder. Needing more space has always been the most popular reason for moving house, but now there’s a new urgency for extra space to be able to work from home, which means that there are different sets of buyers competing for the same type of property.”
Tim continued by saying; “At the start of the year a fourth bedroom was very much a luxury for buyers trading up, but it’s now emerging as a must-have for those who are able to take that step. With overall asking prices just a few hundred pounds shy of July’s record, and buyer demand at an all-time high, those currently looking for their next home are likely to find that only offers close to the asking price will be considered, especially for larger homes.”
New study shows what buyers consider when viewing property
An innovative study carried out by comparethemarket.com offers insight into what prospective buyers look at, and test, when viewing a prospective property. These might not be the factors which make or break a buyer’s resolve to make an offer, but if problems arise, a buyer might not be inclined to follow up their initial interest in the property.
Some of the most commonly considered points include:
- The quality and condition of radiators
- Access to a garden space
- The level of water pressure
- Cupboard doors
- The comfort of beds
- How well the oven works
- How light switches work
- The accessories which add a touch of personality to the property
Mark Gordon, head of mortgages at comparethemarket.com, said: “UK house prices are currently on the up and with the stamp duty holiday prompting more buyers to get on the property market, it’s a competitive time for homeowners looking to sell their home. We conducted this experiment to determine the areas of the home buyers look at most to help sellers maximise their chances of a sale. Some sellers may not have considered these factors when preparing their homes for viewings, so we hope our insight will help them focus on the areas they should check and freshen up.”
If you are looking to make a move in the Melksham property market, and you would like to speak with local experts, please get in touch. If you would like to arrange a property valuation, contact us and we will set this up for you. You can phone Lock & Key on 01225 707 342 or why not come and visit us at 5 Church Street, Melksham.