Fri 27 Jun 2008
Millions of people looking to move home
Around 3.25m people are planning to move home over the next year, despite the turmoil in the residential property market, according to the new Moving Improving research from Alliance & Leicester.The research reveals that one in five homeowners intend to make DIY improvements to add value their home. 38% admit they have done this in the past in order to successfully sell a previous property, spending an average of £3,000.
The report also shows that 69% plan to redecorate their home, 59% will do some outdoor improvements, and 44% will carry out routine maintenance they have been putting off.
The news comes as a pleasant surprise given the current worries in the property market and demonstrates that demand for housing still very much exists.
“Even within the current climate, there are still millions of people who are looking to move and they are doing all they can to get the best price for their property,” said Richard Taylor, head of mortgage products at Alliance & Leicester.
Taylor added: "Recent pressures felt by homeowners looking to sell means it is essential they are in-tune with what potential buyers are looking for. What sellers perceive as necessary improvements can often be irrelevant to those looking to buy. However there are many worthwhile and value-adding improvements which will make properties more attractive to the buyer and generate the market value of the property. It is important that both buyers and sellers make sensible decisions within the current climate and remain within their personal affordability levels."
Posted by Marc Da-Silva
in Alliance and Leicester, Moving Improving, News, Richard Taylor on Fri 27 Jun 2008
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