While there are many things that estate agents can do to facilitate house moves and make people feel as though they are doing the right thing in buying or selling a property, there is only so much that they can do. If people are not interested in moving, no matter how good an estate agent is or how effective they are in their operations, they will find that they will struggle to move people on and make the commissions that leave them smiling at the end of the month.
This means that figures uncovered in a survey undertaken by the Clydesdale and Yorkshire Banks will send a shiver down the spines of estate agents across the United Kingdom. This is because it appears that fewer people are looking to move home in the next year. Not only is the sort of news that will scare estate agents, if you have been thinking about selling your home, you may start to sweat a little. Recently, the level of demand for buying homes has been pretty high, which means that sellers have had a good opportunity to find a buyer for their property. Of course, if there is a drop in the number of people who are looking to buy properties, sellers may find that they don’t have the same volume of people coming to them with offers or interest.
A drop in numbers is usually a concern for estate agents
Of the people surveyed, just 12% said that they have plans to move into a new home in the next 12 months. This sounds a very low figure and no doubt it will leave many people worrying about their chances of selling their home. This figure should be placed into context though and it is only a small drop in the 14% of respondents who said they are looking to move home in the next 12 months when they were asked at the beginning of 2015. It is also a fall from 17% of respondents who were asked the same question at this time last year. So we do have a downward trend, which is always a concern, but it isn’t a massive drop-off from last year or from earlier in the year and people were still buying and selling homes in these periods.
There may be fewer homes sold, but homes will still be sold and it is up to current property owners looking to sell and estate agents to make sure that their property is in high demand.
44% of people questioned in the survey said that they are looking to stay in their present home without any changes while 22% said that they are looking to make home improvements or add additional space at their home.
It seems as though Londoners are the most committed to moving, 19% of respondents saying they are looking to move, while just 5% of respondents in the East of England cited any intention to move home.
A spokesperson representing the Clydesdale and Yorkshire banks said; “In some areas this is resulting in pent-up demand which is pushing up property prices which is clearly welcomed by sellers. However, for some people it is a deterrent as they are concerned about being able to find their dream property due to the limited selection of homes on the market.”