{"id":36480,"date":"2017-11-16T12:56:00","date_gmt":"2017-11-16T12:56:00","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=36480"},"modified":"2017-11-16T12:56:00","modified_gmt":"2017-11-16T12:56:00","slug":"poll-reveals-keys-to-success-in-the-uk-property-market","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/poll-reveals-keys-to-success-in-the-uk-property-market\/36480\/","title":{"rendered":"Poll reveals keys to success in the UK property market"},"content":{"rendered":"

With 11 house-hunters for every home on the market, a new homebuyer poll has revealed the keys to success in the UK property market<\/h2>\n

New research among more than 2,000 UK adults commissioned by bridging lender MFS<\/a> has unveiled what homebuyers believe are the most important factors when trying to get ahead in the UK property market.<\/p>\n

With figures showing that there are now 11 house-hunters for every residential property up for sale in the UK, today\u2019s (16 November) independent, nationally-representative poll shows what people who have successfully bought a house in the last ten years think are the keys to success. Additionally, the research reveals that 80% of UK adults are not confident in the Government\u2019s ability to make it easy and more accessible for people to purchase a property over the next two years.<\/p>\n

Each respondent \u2013 all homebuyers <\/a>since 2007 \u2013 was asked to score every factor from one to ten in terms of its importance in determining whether a house-hunter would be successful in the UK property market. The results reveal that this is how the key tactics rank:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Rank<\/strong><\/td>\nFactor<\/strong><\/td>\nMean score out of ten<\/strong><\/td>\n<\/tr>\n
1<\/strong><\/td>\nHaving a very clear idea of budget and desired property from the outset<\/td>\n7.86<\/td>\n<\/tr>\n
2<\/strong><\/td>\nHaving immediate access to the required funds<\/td>\n7.78<\/td>\n<\/tr>\n
3<\/strong><\/td>\nBeing chain free<\/td>\n7.18<\/td>\n<\/tr>\n
4<\/strong><\/td>\nActing fast \u2013 when seeing the right property, bid as soon as possible and then begin the formal conveyancing process<\/td>\n7.15<\/td>\n<\/tr>\n
5<\/strong><\/td>\nFlexibility in the location of the property being bought \u2013 not limiting the search to one particular area<\/td>\n6.87<\/td>\n<\/tr>\n
6<\/strong><\/td>\nBeing able to offer on or above the asking price<\/td>\n6.81<\/td>\n<\/tr>\n
7<\/strong><\/td>\nNot putting in an excessively low first offer and insulting the seller<\/td>\n5.88<\/td>\n<\/tr>\n
8<\/strong><\/td>\nBidding on properties that are run down and require renovation<\/td>\n5.87<\/td>\n<\/tr>\n
9<\/strong><\/td>\nHaving preferred relationships with the seller or estate agent<\/td>\n5.48<\/td>\n<\/tr>\n
10<\/strong><\/td>\nBeing willing to gazump other buyers<\/td>\n5.07<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Topping the list of the most important factors for house-hunters is having a very clear idea of their budget and desired property from the outset \u2013 this scored an average of 7.86 out of ten among previous UK homebuyers. The top three was completed by having immediate access to the property-buying funds and being chain free, which scored 7.78 and 7.18 respectively.<\/p>\n

Speed was identified as another key factor; the vast majority of recent homebuyers said it was very important to act quickly upon seeing the right property. Being flexible in the location of the property and having the budget to actually offer over the asking price also scored highly in MFS\u2019s homebuyer survey.<\/p>\n

Coming in at the bottom of the list was gazumping. The practice of making last minute bids to steal a property away from a rival buyer has been cited as a common issue in England and Wales, but the poll shows that homebuyers do not deem it to be as important for people hoping to be successful in the UK property market.<\/p>\n

Paresh Raja, CEO of MFS, said:<\/p>\n

\u201cWith 11 house-hunters for every home up for sale, the UK\u2019s property market is hugely competitive. But today\u2019s research provides valuable insight for those looking to get ahead in this marketplace \u2013 as well as having a very clear idea of your budget and desired property, it is also vital that people seeking to get onto or move up the property ladder have immediate access to the funds they need to complete the purchase if they are to secure their ideal home. People are clearly not confident in the Government\u2019s current approach to home ownership, and this year\u2019s Autumn budget<\/a> provides an ample opportunity to address some of the market\u2019s key concerns. Central to this is the ability for investors to quickly access finance and reduce the risk of being stuck in prolonged housing chains \u2013 whether it\u2019s through traditional mortgages or alternative options such as short-term bridging loans, house-hunters must ensure they have the required finance to act, and act quickly.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

With 11 house-hunters for every home on the market, a new homebuyer poll has revealed the keys to success in the UK property market<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[601,666,656],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-36480","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-accessible-housing","8":"tag-affordable-housing","9":"tag-housing"},"acf":[],"yoast_head":"\nPoll reveals keys to success in the UK property market | Planning, Building & Construction Today<\/title>\n<meta name=\"description\" content=\"With 11 house-hunters for every home 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