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Property sellers – what are the top considerations for today’s home movers?

Over recent months, pent-up demand for moves after various lockdowns and restrictions, as well as the now-ended stamp duty holiday, have helped to fuel the property market.

When it comes to selling your home, you will likely find yourself in a strong position at present as it continues to be a sellers’ market with demand heavily outweighing supply. But it’s important not to get complacent. As a result, it’s vital that you know what home features are high on buyers’ wish lists.

The latest consumer research from housebuilder Redrow reveals proximity to essential shops, family and friends and green open
space is the top three location priorities for those moving home.

It also found more than a quarter (27%) of respondents see themselves as moving home within the next two years, suggesting a strong appetite to move home now that the stamp duty holiday is over.

Below, we lean on the results to uncover the top factors that potential buyers place high importance on and how sellers can benefit.

Family, pharmacies and fields are the top location priorities for buyers

Living close to family and friends is a top priority for nearly four in 10 people, according to Redrow’s survey of some 2,000 adults – described as the first of its kind since the pandemic.

Equally important to being near to family is access to green open space, but the most crucial factor revealed was proximity to essential amenities such as a pharmacy or a shop selling food, highlighted by 49% of respondents.

As exercising in the home has become more of a trend during the pandemic, just 8% of people ranked proximity to a leisure centre as a top location priority; but many more are interested in drinking, with 17% prioritising getting to the pub easily.

Private balcony and parking are the most essential home features

Having enough private outdoor space – either a garden or a balcony – to enjoy the outdoors was a top consideration for 51% of potential
home movers.

A private car-parking space was the second most popular answer, considered a priority for 38% of those selecting their next home.

However, younger people are less likely to see this as a priority with just 25% of 18-34 year olds considering private parking important. This was much higher at 48% for the over 55s and stood at 37% for those aged 35-54.

Also highly sought-after were good broadband speed and a ‘spare’ bedroom which can be adapted for a range of uses (28%) – both of which rose in importance during the lockdowns and enforced home working period for many in office-based roles.

A quarter of buyers aim to move home in the next two years

The past 18 months have certainly been a sellers’ market, with the number of homes sold in the UK reaching record levels in June 2021, according to statistics from HMRC.

People are still restless, with more than a quarter of respondents in Redrow’s research saying they intend to move home in the next two years. Some 8% plan to make a move within the next six months.

Interestingly, the top three drivers for moving are all bricks and mortar-related, rather than being linked to location. Some 17% of people want a home with more indoor space, 14% are seeking a better-quality property, and 13% want a home with more outdoor space.

Very few people (just 2%) say their main reason for moving home is to move into a city or town, which aligns with the post-pandemic narrative of many people moving out of cities in the search for more space.

Three times more people (6%) say their main motivation for moving is to get away from the city/big town they live in currently.

With buyers eager to move home, sellers are in the best position to put their property on the market. Of course, you want to market your home to the right demographic – particularly if it is suitable for families with young children, or young professionals – making sure to emphasise its location, any nearby amenities and local green space.

In any case, small, inexpensive fixes and redecorating alone could push up your asking price, but working with a knowledgeable agent, one who knows the local area well, could bolster your home’s value and help to clinch a deal.

Here at Holland Properties, we have been an established estate and letting agent since 1999 and can help to manage your tenancies, allowing you to get the most from your rental properties as a result. We operate in Docklands and the surrounding areas including Surrey Quays and Rotherhithe, as well as across the rest of London.

For further guidance on any part of the selling process, please contact us today. You can also request a free and instant online valuation to get an estimate of your home’s value in the current marketplace.