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TODAY'S OTHER NEWS

It takes just 53 minutes to buy a home

The average house hunter takes just 53 minutes to decide to buy a home, 15 minutes more than one year ago.

Online estate agent eMoov suggested that buyers are taking more time as competition in the market eases.

It asked more than 1,000 homeowners how long they took during the viewing process before submitting an offer. One year ago they found it took just 38 minutes.

However, 53% return for a second viewing, while 41% feel the need to view a property more than twice.

Russell Quirk at eMoov said this was a surprise given how online information has streamlined the property buying process.

“UK buyers are taking that extra bit of time viewing a property before submitting an offer."

Quirk added: “Although demand is still high in a number of areas, particularly London and the surrounding areas, the market isn’t quite as competitive as in previous years, so many potential buyers are opting for a second or third viewing before committing to a property.”

He said that given the enormity of the decision and with buyers not feeling as pressured, there is no need to rush to submit an offer and secure a property after the first viewing.

“However, the data shows that 6% of buyers will view a property for less than 10 minutes, before deciding to buy it.

“This still amazes me but highlights the speed the market can move at, in the areas where demand is still outstripping supply."

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