Buyers are ‘armed with research’
Prospective buyers do far more research into their house purchase than they are given credit for, according to a property industry body.
The findings of a recent poll by ING Direct suggested buyers took an average of only 17 minutes to choose their new home - less than a third of the average time taken to select new curtains.
Bill McClintock, chief operating officer of the Ombudsman for Estate Agents, thinks it is unlikely that people make snap decisions about such a major purchase, which will often involve obtaining a six-figure mortgage.
Instead, he believes house hunters attend viewings already armed with information about prices, locations and the types of property available.
"People might make a quick decision but I don't think they make a quick decision unless they have done a lot of work beforehand, to work out the sort of property they really want," said Mr McClintock.
ING Direct's survey also revealed around half of those quizzed felt the state of the property market meant they had little choice but to make a swift decision, but Mr McClintock added that the current slowdown should remove that pressure.
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