Homeowners in Wales most anxious about achieving a quick sale

Posted 26 January 2016 by Helen Christie

71% of family homeowners questioned in Wales expect to be waiting more than three months to receive an acceptable offer...

Research has found that family homeowners in Wales expect to be waiting more than three months for an acceptable offer on their property, and in some areas they expect to wait considerably longer.

These findings follow previous research that shows Llandudno and Colwyn Bay in North Wales are both included in the top 10 worst places in the country to sell a house. It takes on average 390 days to sell a house in Llandudno and 316 days in Colwyn Bay.

When looking at England and Wales as a whole, it appears that over half of family home vendors (56%) anticipate they will be shaking hands with a buyer between one and three months after putting their property on the market.

In contrast, 50% of vendors putting family homes up for sale in London are optimistic of taking down the ‘For Sale’ sign within one month, with only 13% expecting to endure a wait of three months or more.

The research conducted by Quick Move Now showed that homeowners cited proximity to schools as the most valuable asset that adds value to a family home to attract prospective buyers when taking the decision to sell up.

However, just 3% of family home owners who are looking to put their property up for sale perceive that a conservatory is a property feature that will entice family buyers to make an offer. An en-suite bathroom is also only deemed important in attracting offers by 7% of respondents.

The research also shows that family homeowners are twice as likely to forfeit purchasing a new car rather than go without a holiday in order to fund essential home improvements before selling their family home.

Almost 1,000 family home owners in England and Wales were polled, and conclusions were also drawn by analysing data from house purchases undertaken by the company in the UK in 2015.

Commenting on the research, Danny Luke, Quick Move Now managing director, says: “Our findings show that hopes for a swift property sale by family home owners vary considerably from one region to another.

“In 2015 almost a fifth of the houses we bought in Wales to enable vendors to sell their property quickly for cash were from Llandudno which is the hardest place to sell a house throughout England and Wales - it currently takes an average of 390 days to sell a property here.

“Even in areas where properties are hard to sell, our research shows that vendors of family homes are more confident of achieving a quicker sale if the property is located in an area close to schools and other amenities.”

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