Date Published 25 July 2012
2 in 5 British home-owners decided their home was the one for them before they even got past the hallway, new research by Rightmove reveals.
The research highlights the impulsive nature that many home-hunters apply to one of life’s major purchase decisions, and underlines the narrow time-frame sellers have to land the right first impression in the challenging UK property market.
Rightmove surveyed over 3,000 consumers as part of its recently launched Market Intelligence campaign, quizzing respondents on when they knew the property they own was the right home for them. 29% admitted they made up their minds either when they first arrived, or when they first set foot in the door. A further 8% stated they decided after seeing the property online, and 4% after seeing the property advertised in a newspaper. In total, 41% of home-owners decided to buy the house they live in before getting past the hallway. Similar results were seen for those currently renting, with 42% of tenants responding that they made up their minds by the point at which they first set foot in the door of their current property.
Rightmove director Miles Shipside comments: `It’s strange to think that one of life’s most important purchasing decisions can be made before going past the hallway. Nothing stirs the emotions of the British public quite like home-hunting and many buyers already have a picture in their heads of their ‘dream home’ as they begin the property search process. When a property ticks all the right boxes straight away, many buyers can make quick, emotionally-led decisions. A further third of buyers made their decision to purchase at some stage during the first viewing, so stirring those initial emotions is vital but it is important to cover all bases and deliver a good all-round property-viewing experience.`
The results of Rightmove’s survey may concern sellers about how to make the right first impression and capture those 2 in 5 home-buyers who make impulsive, emotionally-led decisions based on early information, as well as capture the imagination of the 1 in 3 who decide during the first viewing. To help, Rightmove is this week launching a major new consumer campaign called Market Intelligence, aimed at providing vendors and landlords with tips and market data on how to sell and let their property this summer.
Shipside adds: `In a market where new sellers outnumber successful buyers by around 2:1 and home-buying decisions can be made very quickly, the ability to make an immediate and impactful impression is more important than ever. With lots of property to look at, buyers tend to exclude rather than include, and once dismissed it is a challenge to regain a buyer’s attention. That’s why we’re looking to give sellers the Market Intelligence they need this summer to price, present and promote their property effectively and get it sold.`