HMT2014 executive summary

HOME MOVING

TRENDS SURVEY

2014

4506 Responses

4506 people who were currently selling their home or investment property in 2013 took part in the Property Academy’s Home Moving Trends Survey.

The responses are from all parts of Great Britain, different property type’s and price ranges however the number of respondents with properties over £1 million is quite small.

The Property Academy 2014

Are you:

42% 58% Female Male

The Property Academy 2014

Which category below includes your age?

20 or younger 0% 21 - 29

8%

30 - 39

21%

40 - 49

19%

50 -59

23%

60 - 69

22%

70+

8% 0

5

10

15

20

25

30 The Property Academy 2014

In which region of the UK is the property located?

Greater London

9%

South East

35%

South West

9%

East of England

9%

West Midlands

5%

East Midlands

4%

Yorkshire & Humberside

13%

North East

2%

North West

13%

Wales

1%

Scotland

1%

Northern Ireland

1% 0

10

20

30

40 The Property Academy 2014

Which price bracket does the property you are selling/sold fall into?

Up to £125,000

9%

£125,001 - £250,000

36%

£250,001 - £400,000

28%

£400,001 - £500,000

12%

£500,001 - £600,000

6%

£600,001 - £800,000

5%

£800,001 - £1,000,000

2%

Over £1m - £2m

1%

£2m + 0% 0

10

20

30

40 The Property Academy 2014

When did you decide to put your property on the market for sale?

21%

79% When I found a property to buy Before I found a property to buy

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Have you posted the property you are selling on your social media platforms e.g. Facebook?

4%

Yes

96%

No

The Property Academy 2014

What is the primary reason for your move?

Downsizing

23%

Upsizing

24%

Job relocation

4%

Relocation by personal choice

39%

I have no choice but to sell

10% 0

10

20

30

40 The Property Academy 2014

What was the most important influence when choosing which estate agencies you would invite to provide a valuation?

Social media presence

1%

Online recommendations and reviews

2%

Impressed by agent's marketing/brand

16%

Impressed by agent's reputation

20%

Agent sold the property to me/previous customer

14%

Membership of professional body

1%

Recommended by friend/family/colleague

12%

Advertising similar properties

8%

Agent's office location

13% 0

5

10

15

20 The Property Academy 2014

How many estate agents did you ask to give you an appraisal/valuation?

1

24%

2

29%

3

35%

4

8%

5+

2% 0

10

20

30

40 The Property Academy 2014

How did you research agents before inviting them to provide a valuation? (Select all that apply) I visited their website

42%

I visited property portal websites

18%

I visited their office

26%

I called them

37%

I did not undertake research before inviting them to provide a valuation

18% 0

10

20

30

40

50 The Property Academy 2014

Would you consider selling your property through an online agent?

38% 62% Yes No

The Property Academy 2014

Did you visit the office of your selling agent?

Yes, prior to selling

35%

Yes, during the selling process

37%

No I did not visit the agent's office

28%

0

10

20

30

40

The Property Academy 2014

Did you read the literature left by the agents you invited to value your property?

8%

Yes

92%

No

The Property Academy 2014

Did you choose the agent who offered the lowest fee?

22%

78% Yes No

The Property Academy 2014

How often should your estate agent keep in touch during the selling process?

Several times a day

1%

Once a day

5%

2-3 times a week

31%

Once a week

39%

Once every 2 weeks

10%

Once a month

3%

Only when there is something to report even if this is weeks since the last contact

10% 0

10

20

30

40

The Property Academy 2014

How would you rate the service that you've received from your agent?

Excellent

Good

Satisfactory

Poor

Very Poor

Communication

41%

35%

15%

7%

3%

Quality of particulars prepared

42%

41%

13%

3%

1%

Marketing of your property online

40%

42%

15%

2%

1%

Marketing of your property in local press

27%

37%

26%

7%

4%

Conducting viewings

41%

35%

16%

5%

3%

Negotiating with buyers

38%

34%

19%

5%

3%

Progressing the sale

36%

34%

19%

7%

4%

Problem solving (if applicable)

35%

34%

20%

7%

5%

Politeness and manners

60%

29%

8%

1%

1%

OVERALL

39%

39%

14%

6%

2%

The Property Academy 2014

Once you have instructed your estate agent, how quickly would you expect your property to be marketed?

Instantly

6%

Within 24 hours

37%

Within 2-3 days

36%

Within 7 days

15%

Within 10 days

2%

Within 14 days

1%

Within 1 month

2% 0

10

20

30

40 The Property Academy 2014

Which websites do you expect your property to be marketed on? (Please tick all that apply) Rightmove

94%

Zoopla

68%

Primelocation

39%

Findaproperty

24%

Agent's own website

83% 0

20

40

60

80

100 The Property Academy 2014

What is most important to you when an agent markets your property online?

Main image

17%

Number of images

13%

Quality of images

54%

Floor plans

10%

Summary text

6%

Video

1% 0

10

20

30

40

50

60 The Property Academy 2014

Would you find it useful for your estate agent to send you a regular summary of all similar properties sold in your area after you've moved?

Yes, annually

5%

Yes, quarterly

8%

Yes, monthly

7%

No

79%

0

10

20

30

40

50

60

70

80 The Property Academy 2014

Which 3 words best describe your estate agent?

The Property Academy 2014

On a scale of 0-10 how likely are you to recommend your estate agent to a friend or colleague? (0 not likely, 10 very likely) 0

5%

1

1%

2

2%

3

2%

4

3%

5

6%

6

5%

7

9%

8

17%

9

14%

10

36% 0

5

10

15

20

25

30

35

40 The Property Academy 2014

Which price bracket does the property you are looking for/have found fall into?

Up to £125,000

10%

£125,001 - £250,000

36%

£250,001 - £400,000

28%

£400,001 - £500,000

12%

£500,001 - £600,000

5%

£600,001 - £800,000

6%

£800,001 - £1,000,000

2%

Over £1m - £2m

2%

£2m + 0% 0

8

16

24

32

40 The Property Academy 2014

Did the stamp duty threshold limit your budget?

Yes; I could not afford to offer above the nearest stamp duty threshold

17%

Yes; on principle I did not want to pay additional stamp duty

28%

55%

No; it did not affect my budget

0

10

20

30

40

50

60 The Property Academy 2014

How often did you search for a property?

Once a week or less

19%

2-5 times a week

26%

Every day

36%

Several times most days

10%

Several times every day

9% 0

10

20

30

40 The Property Academy 2014

Where did you first see the property you are buying?

Newspaper

4%

Portal eg: Rightmove, Zoopla

68%

For Sale Board

6%

Agents own website

7%

Agents window

2%

Email from agent

4%

Phone call from agent

6%

Visit to the agent’s office

4% 0

10

20

30

40

50

60

70

The Property Academy 2014

How long did you look at properties for sale before you first contacted an estate agent to view a property?

Less than 24 hours

19%

1-3 days

20%

A week

18%

A month

18%

3 months

10%

6 months

6%

12 months

4%

24 months

1%

Over 2 years

3% 0

5

10

15

20

The Property Academy 2014

Did you visit individual estate agents’ websites to view properties for sale?

37% 63% Yes No

The Property Academy 2014

A number of estate agents and house builders now produce property videos - did you watch any?

None

67%

A Few

29%

Several

3%

Lots

1%

0

10

20

30

40

50

60

70 The Property Academy 2014

Are you or would you consider buying a brand new home?

I only want to buy a new home

3%

I would prefer a new home but I am looking at preowned homes too

19%

I prefer preowned properties but would consider a new home

48%

I wouldn't consider a new home

30%

0

10

20

30

40

50 The Property Academy 2014

If you were to buy a brand new home would it matter who the builder was?

It wouldn't matter who built it, I would judge each property on its merits

32%

I would rather buy from a local builder with a good reputation

10%

I would rather buy from a national builder with a good reputation

5%

I would buy from either a local or a national builder with a good reputation

19%

The location, property and development is what matters, not who built it

34% 0

10

20

30

40 The Property Academy 2014

Are you a landlord/do you own another property as an investment?

No

76%

Yes, 1 other property

15%

Yes, 2 other properties

5%

Yes, 3 other properties

2%

Yes, 4 other properties

1%

Yes, 5 or more other properties

2% 0

10

20

30

40

50

60

70

80

The Property Academy 2014

Which of the following services have you considered/would you consider using by recommendation from your estate agent? (Tick all that apply) Surveyor

62%

Conveyancer/Solicitor

64%

Mortgage Broker

28%

Removal Firm

30%

Interior Design Firm

6% 0

10

20

30

40

50

60

70 The Property Academy 2014

How did you choose your Conveyancer/Solicitor?

Estate Agent Recommended

39%

Friend Recommended

20%

Previous Customer

32%

Local Advertisement

1%

Searched Online

8% 0

10

20

30

40 The Property Academy 2014

Please put these descriptors in order of importance to you when selecting a conveyancer/solicitor Really Important

Quite Important

Not That Important

Really Not Important

Good communicator / rapport

74%

24%

2%

1%

Proactive

81%

18%

1%

0%

Problem Solving

77%

21%

2%

0%

Professionalism

78%

21%

1%

0%

Price

40%

50%

10%

1%

Local knowledge

38%

36%

22%

4%

Recommended

47%

41%

10%

2%

Experienced

73%

24%

2%

1% The Property Academy 2014

How would you rate the service that you received from your Conveyancer/Solicitor?

Excellent

Good

Satisfactory

Poor

Very Poor

Communication

40%

36%

16%

6%

2%

Speed and proactivity

36%

34%

19%

8%

3%

Ability to speak in simple way

42%

38%

17%

3%

1%

Problem Solving

36%

36%

21%

5%

2%

Professionalism

45%

36%

15%

3%

1%

Value for money

33%

39%

23%

5%

1%

Knowledge

40%

38%

18%

3%

1%

Doing what they said they would do

42%

35%

17%

5%

2%

The Property Academy 2014

Did you choose the Conveyancer that quoted the cheapest fee?

13%

87% Yes No

The Property Academy 2014

How often should your conveyancer/solicitor keep in touch during the conveyancing process?

Several times a day

1% 5%

Once a day

30%

2-3 times a week Once a week

37%

Once every 2 weeks

7%

Only when there is something to report even if this is weeks since the last contact

20% 0

10

20

30

40

The Property Academy 2014

What was your preference for receiving updates from your solicitor?

Face to face

3%

Telephone

38%

Email

57%

Online updates

3%

0

10

20

30

40

50

60 The Property Academy 2014

Which 3 words best describe your conveyancer?

The Property Academy 2014

On a scale of 0-10 how likely are you to recommend your conveyancer/solicitor to a friend or colleague? (0 not likely, 10 very likely) 0

6%

1

2%

2

2%

3

3%

4

3%

5

9%

6

6%

7

11%

8

18%

9

14%

10

28% 0

5

10

15

20

25

30 The Property Academy 2014

If you have taken out a mortgage this year, how did you choose your mortgage provider?

Current/previous mortgage provider

38%

Via a mortgage broker that my estate agent recommended

22%

I carried out my own research and found my own provider

40%

0

10

20

30

40

The Property Academy 2014

Did you take financial advice for obtaining a mortgage:

Prior to finding the property I am buying/have bought

36%

Once I found the property I am buying/have bought

19%

I did not need financial advice or a mortgage

45%

0

10

20

30

40

50

The Property Academy 2014

The Property Academy analyses the data from our surveys in a lot more detail and the findings and what this means are presented within our seminars and training.

Please contact us on 01372 370847 for more information or visit propertyacademy.co.uk for a full list of our upcoming events and training that may be of interest to you.

The Property Academy 2014

HOME MOVING

TRENDS SURVEY

2014

4506 Responses

HOME MOVING

TRENDS SURVEY

2014

propertyacademy.co.uk