The largest consumer property census has confirmed that British buyers and sellers have long term confidence in the market
With over 32,000 responses on the Rightmove website, the consumer property study has surveyed sentiment in the property market from buyers, landlords, investors, tenants and sellers.
The findings reflect what the company calls ‘the general public’s long-term optimism and confidence in property.’ It found that only 6% of existing landlords are looking to sell their properties, and what’s more 58% intend to buy more properties, while buy-to-let investors are confident that their properties will gain in value over time.
Firs-time buyers also seem buoyant and the survey found that 22% of first-time buyers are aged over 35, and over half are between 25 and 34, whilst a small figure – 1% – were over 55.
The respondents said they think it’s hugely important to market your property online, and 83% of all buyers responding to the census found the internet more useful than traditional property newspapers for finding their new home.
‘Over the last few years, the use of the internet has become more accessible and more widespread; not only within the home but on mobile phones and various other channels,’ said Miles Shipside at Rightmove.
‘Researching the local property market has become a national obsession and form of entertainment. As well as potential buyers seeing what they can buy with their budget, homeowners like to see what similar properties to theirs are selling for. The internet has revolutionised the homebuying process dramatically as everyone now knows that they can easily view thousands of property details from a range of agents, with maps and additional images in seconds.’