We all know size matters when it comes to property, but are vendors taking sizing seriously. In a competitive market, where you must get in front of likely buyers, you can see why some agents and vendors cut corners to present their home in the best manner.
However, in a recent study undertaken by YouGov and Spec, the importance of accurate measurements has been highlighted. The size of a property impacts demand and what buyers are willing to pay for a home.
The research spoke to 2,025 people across the United Kingdom. 70% of respondents said accuracy was “very important” to them in considering a home. 91% of respondents said that accurate measurement of the property was “important”.
Wear and tear is also an issue for buyers
83% of respondents said the size of the property was the most critical factor for valuing a property. 68% of respondents spoke about damage from wear and tear, and 66% of respondents raised concerns about the age of a property.
The CEO of Spec, James D Marshall, said; “What this research indicates is that property size is a much more significant factor for homebuyers than initially assumed. Even more surprising is the importance of accurate measurement - customers clearly don’t want to base their purchasing decisions on a rough estimate.
There is a real opportunity for intrepid estate agents to stand ahead of the crowd and provide a solution that customers are crying out for. It also allows agents to insulate themselves from possible legal action, as agents falling foul of CPR legislation related to property measurement can face significant fines or up to two years in prison.”
It is important to provide buyers with what they want
In a highly competitive market, it is easy to see why some agents take an underhand approach in selling a house. However, this approach only works in the short-term. In the longer-term, offering accurate measurements and accurate readings are essential, and will lead to more sales and genuine interest.
There is a wide range of homes on offer in Stockport. The town centre has many older homes, and of course, there is a lot of new-build homes being added to the mix. This means that there is likely a home for every type of buyer’s preferences, but it is still vital to reach out to them. It has also never been more critical to meet buyers needs, and accurate measurements matter in the present climate.
With convenient transport links to the centre of Manchester, and significant developments taking place, Stockport is the ideal place to buy, live or invest. As Stockport property specialists, we want to ensure you stay in touch with the latest property news. If you are looking for assistance in this area, give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html