Estate agents say homes need to be built bigger and more beautiful as a recent survey suggests that 26% of Brits hate their current domicile – but would find moving too much of a headache.
Local estate agents Mullucks say the results of a recent house-moving survey of 2,000 people prove how flawed the current process is, and how urgently reform is required.
The findings indicate that over a quarter of those questioned hate where they live, but the cost and stress of moving home puts them off looking for another property.
Mullucks’ Residential Director William Wells said: “The results of this survey are disappointing, but sadly they come as no surprise. For too long, people who want to move home have faced a process which is stressful, lengthy and expensive. However, the sad truth is that it doesn’t have to be this way.
“Almost all parts of moving house have come down in price with one exception, which is Stamp Duty. It’s the single biggest factor which dissuades or prevents people from moving – and only the Government can answer why they continue with the present eye-watering levels.
“Not only is moving home too expensive, it’s too complicated. It takes on average 16 weeks to reach exchange of contracts. The National Association of Estate Agents, the Royal Institution of Chartered Surveyors, the Law Society and all the various lending sources should get together and do something about it. It’s a disgrace and it need not be as difficult as at present.”
The survey also revealed that 26% of those questioned say they hate their house because it’s too small and 56% said they have no emotional connection with their home
Wells added: “To be honest, the planning process leaves a lot to be desired. The government should insist that there is a minimum size of house which can be built, and developers need to think more carefully about adding character to both the inside and outside of the homes they create.
“Banks and building societies should make it clearer to borrowers what documentation they need and at what stage, and solicitors (who work on a different basis to estate agents) need to play their part in moving a sale along quickly. Of course, the longer a transaction goes on, the greater the chance it has of falling through, so the chances of losing a sale at the moment are 1 in 3.
“Frustratingly all these issues could be sorted out relatively simply, but dogma, indifference and inaction mean that it is unlikely anything will happen soon”.
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