Brits expect the worst when it comes to home sales, study shows
PUBLISHED: 08:00 13 February 2019
We're a nation of cynics who routinely overestimate the length of time it will take to sell a property, a new study has revealed.
According to research from Zoopla, 55 per cent of British homeowners believe it will take more than two months from a property’s first listing to the time it goes under offer, when the reality is a more efficient 50 days.
To achieve these findings, Zoopla researchers combined a survey of 3,000 homeowners on their expectations around selling a property with their own site data.
They found that Welsh homeowners were the most pessimistic, with 70.7 per cent anticipating a sale will take more than two months when it typically takes 55 days. People in the West Midlands tend to look on the bright side however, with 24 per cent expecting a buyer to commit in under a month when in reality the average time frame is 42 days.
Here in the East of England our expectations are in line with the national average – 54 per cent of people think it will take more than two months for a property to come under offer, while the average is actually 53 days.
Annabel Dixon, spokesperson for Zoopla, said: “Our survey shows big differences in the average amount of time it takes for a property to receive an offer in the UK. Scottish properties are going under offer in just 39 days on average, almost three weeks faster than London.”
Annabel added: “When selling your property, bear in mind that hiring the right agent can make all the difference. They will provide an accurate valuation before you start the sale process, giving you the best chance of receiving the best price and helping pave the way for a swifter transaction.”