Tag Archives: shows
High percentage of parents pay tens of thousands more to move close to a good school
One in four parents in the UK have moved house to be within a desired school catchment area and paid an average of 11% more for a home, new research shows. Those who moved paid £23,707 for a school catchment address, an 11% premium on the average UK property price which rises to 15% or […] The post High percentage of parents pay tens of thousands more to move close to a good school appeared first on PropertyWire . Continue reading
Research suggests more people in Europe are finding home prices too high
Confidence in European housing market has hit a plateau at a time when unaffordable prices are forcing people to live with parents or put off having children, according to new research. Overall some 56% of people in Europe expect house prices to rise in the next 12 months and as a result 33% are delaying important life decisions, the homes and mortgages 2016 report from ING suggests. But a breakdown of the survey data covering 15 countries shows that there are vast shifts in outlook across Europe and the most dramatic shift has been in the UK, where expectations of rising house prices fell by 13% prior to the referendum on its future in the European Union. Following the Brexit vote the question was repeated and the number who expect house prices to fall grew 16%. It means that 46% of people in the UK now believe house prices will rise in the next year, the lowest proportion since the first survey was conducted in 2012. Falling interest rates are one factor that can typically influence house prices. Across Europe, Luxembourg at 28% and the UK at 26% have the largest share of people who report that low interest rates have pushed up house prices where they live. However, in all but two of the countries included in the study, when asked how the fall in rates has affected house prices where they live, some 39% of respondents say they ‘do not know’, indicating that few actually understand the effect on house prices. Unaffordable housing is having an impact across Europe. Some 60% of people find that house prices where they live are expensive and 33% are putting their lives on hold as a result. Those affected admit to putting the brakes on their futures, with 29% being forced to live with others, 22% saying they feel trapped in their current jobs and 16% delaying having children. High house prices are resulting in 24% of people finding it difficult to pay their mortgage each month, reaching highs of 41% in Poland and 40% in Romania. As a coping mechanism, some 46% are compromising on their housing choices whether they rent or own their home. Of those who have compromised and are unhappy with their situation 39% moved to areas they do not like as much and 39% settled for a smaller home while 37% of those who are unhappy with their housing today say they opted for houses in poor condition. Despite these challenges, 46% want to buy a house in the near future and are willing to make the necessary sacrifices in order to call their place their own. Some 41% of people in Europe admit to curtailing spending a lot in order to buy, although this proportion rises to a survey high of 60% in Turkey. The difficulties facing buyers have also led to a reliance on the… Continue reading
Home owners in UK underestimate the work involved in selling a home
Nearly a third of home owners in the UK view estate agents as poor value for money but they dramatically under estimate the work involved in selling a house, new research has found. Overall, the survey, which analysed the perceptions of UK home owners across a variety of property related topics, including the services consumers expect as part of an estate agent's fee, preferences for online property portals and the public perception of estate agents, concluded that there is a need for more transparency in a rapidly changing property market. Only 18% of home owners regarded estate agents as helpful but 20% viewed them as knowledgeable. However, 35% thought they are too pushy and 30% perceived them as poor value for money. When choosing an agent, the fee is the most important deciding factor with 56% rating this as their top consideration, according to the research from estate agent comparison site netanagent. The survey found that a personal recommendation is a close second and local knowledge and responsiveness also ranking highly. It also found that home owners expect a lot for their money with 25% expecting to pay as little as 0.5% to 1% fee to cover all estate agency services, in comparison to the national average of 1.1%. The firm suggests that this reveals a clear need for better education by estate agents amongst consumers about what a fee covers and the work that goes into selling a property. As part of the fee, 52% expect photography to be included while 49% expect their property to be listed on property portals. Some 10% expect the running of open days to be included as standard, along with 6% expecting video marketing services and 10% virtual tours to all be part of the fee. The research also shows a major shift in how people are prepared to sell property. Some 85% are willing to consider using an online estate agent. The report says this is symptomatic of a changing market, with traditional high street agents not always the first port of call when selling a house. Despite this trend, there is still a clear appreciation for the services offered by traditional agents, with reasons to not use an online agent including a desire to speak to people face to face when dealing with big decisions and for local people to sell a house in the local area. With the increased competition in the marketplace from online agents, the survey reveals that 96% of home owners would consider comparing estate agents' fees and services online if they could, to help decide which agent to use when selling a property. Findings from the survey also reveal that the most popular time for home owners to conduct estate agent research is in the evening, with 38% doing so between 6pm and 9pm, outside of traditional opening hours for many high street agents. When looking for property online, only 13% of respondents visit OnTheMarket to… Continue reading
