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Latest News - January 2007
RENEWED CONFIDENCE IN PROPERTY MARKET – AND ESTATE AGENTS ARE NOT
BAD AFTER ALL!
GfK NOP FINDINGS
| Key findings: |
70% of people in the
UK believe the property market will continue to increase in value |
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62% of movers plan
on buying a more expensive property;
25 – 34 year olds most confident and ambitious age group |
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76% have never had a
bad experience with an estate agent; 74% say agents help by
saving time; 58% say agents help reduce stress |
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Despite recent interest rate increases there is a high level of
confidence in the property market with 70% of people in the UK
believing the market will continue to increase in value over the
next three years according to a new survey by GfK NOP.
The survey, commissioned by independent estate agents Beadnall
Copley, also found that of those thinking of moving within the next
three years, 62% are planning on buying a more expensive property,
with 25 – 34 year olds having the most ambitious plans for moving up
the property ladder than any other age group.
The survey also showed that consumers viewed estate agents – a
profession often maligned – in a positive light. The results
revealed that 76% of people who had used an estate agent said they
have never had a bad experience as a direct fault of an agent and
74% stated that agents saved them time and helped by finding
appropriate properties. With moving home often quoted amongst the
top most stressful life experiences along with bereavement and
divorce, more than half of those surveyed, 58%, agreed that estate
agents help take the stress out of moving home.
Founding partner of Beadnall Copley Andrew Beadnall: “Aside from
indicating strong consumer confidence in the property market that
even two recent interest rate rises haven’t appeared to dent, it
also turns criticism about estate agents on its head. It has almost
become part of our popular culture – and we believe most unfairly -
that the profession has become a favourite whipping boy.
“This however provides vindication by revealing consumer opinion –
and experience – which shows overwhelming support for the role that
estate agents play for both home buyers and sellers.”
The survey also revealed regional variances which show people in
Yorkshire were overall the most satisfied with estate agents; for
example those who have never had a bad experience was 82% (as
opposed the national average of 76%). Of those that ‘strongly
agreed’ that estate agents save homeowners time/help potential
buyers find appropriate properties to view, there is virtually 50%
more support for estate agents from people in Yorkshire than there
is in London. Mr Beadnall contributes this to the multi-listing
approach that is prevalent in London and believes that there is
neither the same professionalism nor high quality of staff within
many agents in London as there is in the North.
The survey also showed that 61% agreed they would find it difficult
to buy or sell a property without the help of an agent; which along
with the rest of the findings, possibly indicates that for the time
being, the option of buying and selling property direct via the
Internet is not a popular choice with consumers. Whilst consumers
like to look at properties on the Internet, they shy away from
arranging viewings and making offers, still preferring the personal
touch of dealing direct with the agent.
Mr Beadnall: “Service is key, plus there is extensive work carried
out behind the scenes for the house buying process – on average, the
files we keep for each property have up to three hundred sheets of
paper relating to the sale by the time the deal is completed, often
representing hundreds of man-hours.”
ends
Note to Editors
Source: Survey carried out on 19th – 21st January 2007 by GfK NOP
Consumer Omnibus among 955 18+ adults on a telephone omnibus survey;
quota controls set by sex, age, social class and region to ensure
the sample is nationally representative
Survey commissioned by independent estate agents Beadnall Copley –
www.beadnallcopley.co.uk
- which has offices in Harrogate, Wetherby and Ripon in Yorkshire.
Press Contact: Susan Goss-Clements:
Direct Line: 01423 339725
M: 07719 569088;
E-mail: sgc@20-20group.com
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