Homebuyers take their time before buying
Homebuyers are spending longer making their minds up before buying homes, research from eMoov.co.uk has found.
Just 6% bought after one viewing, with the majority (53%) returning for a second viewing and two in five (41%) viewing a property more than twice.
According to eMoov buyers typically decided to go for it after 53 minutes of viewing a property, up from 38 minutes 12 months ago.
Russell Quirk, founder and chief executive eMoov.co.uk, said: “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.
“It makes sense given the enormity of such a decision and with buyers not feeling as pressured, there is no need to rush to submit an offer and secure a property after the first viewing.
“However the data shows that there are still those 6% of buyers that will view a property for less than 10 minutes, before deciding to buy it. This still amazes me but highlights the speed the market can move at, in the areas where demand is still outstripping supply.”