Selling a property is easier than finding somewhere to buy say home owners
PUBLISHED: 17:00 24 April 2017 | UPDATED: 19:55 25 April 2017
89 per cent of people looking to move feel that finding their next property is harder than selling their existing home.
A poll by estate agency chain, Romans, gives a shortage of supply as the most likely explanation for this state of affairs.
Antony Gibson, Romans Director explains: “For many, once they’ve decided to move, the biggest challenge is finding their next home and they don’t feel comfortable about putting their house on the market until they do.
“However, it’s a vicious circle. Home owners who want to move are not putting their houses on the market due to the lack of suitable property available for them - but, by not offering theirs, they create demand in the market but do not add to the supply! Thus contributing to the gridlock.”
The poll also revealed that 50 per cent of movers don’t plan to put their own home on the market until they have seen another they would like to buy – or at least feel confident that their are lots of options open to them.
Antony continues: “Our personal experience has shown us how, by simply listing their home for sale whilst looking for a new one, those wanting to move can alleviate the gridlock in their area and speed the process up for themselves and the others in the property chain.”
A further increase in property prices is likely to be a direct consequence of this current gridlock, according to Romans.