Around two-thirds of homebuyers say the experience of buying and selling property has discouraged them from moving again, according to new research from the Open Property Data Association.
The study found that 66% of recent movers are reluctant to repeat the process, with one in five saying it has significantly deterred them, citing delays and administrative friction within the UK system. Among 35-44-year-olds – typically second steppers – the figure rises to 73%.
Respondents said the process has had wider impacts, with 34% reporting disruption to family plans, 31% to career moves and 28% to downsizing decisions.
Based on a survey of 5,000 movers, the research highlights ongoing issues including delays at exchange, poor communication and repeated information requests. Transactions currently take an average of 135 days to complete after an offer is accepted, up from 93 days in 2019.
The findings indicate a potential constraint on housing supply, particularly as fewer second steppers re-enter the market, limiting opportunities for first-time buyers.
Maria Harris, chair of the OPDA, said: “These findings are a major alarm bell for the housing sector. If so many people are reluctant to move again, it’s going to have a significant impact on housing supply, worsening mobility, particularly for those already struggling at the bottom of the housing ladder.
“The current system in the UK is broken and needs deep structural reform. Embracing smart data will transform how we buy and sell property. With more upfront information and industry wide standards, we can deliver faster transactions, fewer fall throughs, and greater transparency.”
Phil Spencer, TV property presenter and founder of property advice website Move iQ, commented: “We all know moving home is a stressful experience. But these findings suggest the process is so bad most people would rather stay put than contemplate moving again.
“Buying a new house should be exciting, not stressful. Digitalisation has transformed so many elements of our lives for the better, and the housing market needs to move out of the dark ages. A system built on smart data would make life better and happier for buyers, sellers and property professionals.”
Read the orginal article: https://propertyindustryeye.com/two-thirds-of-buyers-deterred-from-moving-again-as-delays-reach-135-days/?utm_source=rss&utm_medium=rss&utm_campaign=two-thirds-of-buyers-deterred-from-moving-again-as-delays-reach-135-days
